AXS Investments LLC Cuts Stake in Wells Fargo & Company (NYSE:WFC)

AXS Investments LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,929 shares of the financial services provider’s stock after selling 705 shares during the quarter. AXS Investments LLC’s holdings in Wells Fargo & Company were worth $292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company in the third quarter worth $25,000. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings in Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company in the fourth quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in Wells Fargo & Company in the fourth quarter worth $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 0.9 %

Shares of Wells Fargo & Company stock opened at $60.21 on Friday. The firm has a 50-day simple moving average of $59.03 and a two-hundred day simple moving average of $52.47. The company has a market cap of $209.91 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.59 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 earnings per share. As a group, equities analysts predict that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.33%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Citigroup reissued a “neutral” rating and set a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.