Wells Fargo & Company (NYSE:WFC) Holdings Trimmed by Blue Barn Wealth LLC

Blue Barn Wealth LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 21.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,865 shares of the financial services provider’s stock after selling 2,486 shares during the quarter. Blue Barn Wealth LLC’s holdings in Wells Fargo & Company were worth $436,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in Wells Fargo & Company by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock valued at $1,143,770,000 after acquiring an additional 526,178 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Wells Fargo & Company by 19.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,465 shares of the financial services provider’s stock valued at $367,000 after buying an additional 1,232 shares during the period. Apollon Wealth Management LLC raised its holdings in Wells Fargo & Company by 43.3% during the 4th quarter. Apollon Wealth Management LLC now owns 69,902 shares of the financial services provider’s stock worth $3,441,000 after buying an additional 21,113 shares during the period. Lincoln National Corp increased its stake in shares of Wells Fargo & Company by 0.9% in the 4th quarter. Lincoln National Corp now owns 44,166 shares of the financial services provider’s stock valued at $2,174,000 after purchasing an additional 380 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in shares of Wells Fargo & Company by 1.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 285,731 shares of the financial services provider’s stock valued at $14,064,000 after purchasing an additional 3,041 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 1.6 %

Wells Fargo & Company stock traded up $0.97 during mid-day trading on Wednesday, reaching $61.23. The stock had a trading volume of 18,691,419 shares, compared to its average volume of 18,896,912. Wells Fargo & Company has a fifty-two week low of $37.18 and a fifty-two week high of $61.76. The firm has a market capitalization of $213.47 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s 50-day simple moving average is $57.86 and its 200-day simple moving average is $50.62.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to the consensus estimate 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 for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company’s payout ratio is presently 29.23%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Jefferies Financial Group increased their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. Compass Point reissued a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. HSBC lifted their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Morgan Stanley upped their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Evercore ISI raised their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.99.

About Wells Fargo & Company

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.