Investors Asset Management of Georgia Inc. GA ADV Sells 527 Shares of Wells Fargo & Company (NYSE:WFC)

Investors Asset Management of Georgia Inc. GA ADV reduced its position in Wells Fargo & Company (NYSE:WFC) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 21,699 shares of the financial services provider’s stock after selling 527 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Wells Fargo & Company were worth $1,060,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $25,000. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $29,000. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company in the third quarter valued at about $25,000. Studio Investment Management LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $28,000. Finally, Venturi Wealth Management LLC grew its stake in Wells Fargo & Company by 108.0% in the fourth quarter. Venturi Wealth Management LLC now owns 724 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 376 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 2.6 %

WFC traded up $1.51 during mid-day trading on Thursday, hitting $58.69. 14,153,514 shares of the stock were exchanged, compared to its average volume of 18,620,340. The firm’s fifty day moving average is $55.42 and its two-hundred day moving average is $48.61. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $59.13. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company has a market cap of $207.79 billion, a PE ratio of 12.29, a PEG ratio of 1.10 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 EPS. Equities analysts forecast that Wells Fargo & Company will post 5.04 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. HSBC boosted their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Finally, Piper Sandler decreased their price target on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.