Premier Path Wealth Partners LLC Trims Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Premier Path Wealth Partners LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 47.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,131 shares of the financial services provider’s stock after selling 20,835 shares during the period. Premier Path Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $1,625,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WFC. Income Research & Management bought a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $211,000. Mattson Financial Services LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $25,000. Modus Advisors LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $26,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $32,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WFC shares. Morgan Stanley lifted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Compass Point boosted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $72.17.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $77.22 on Friday. The company has a market capitalization of $257.11 billion, a P/E ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day moving average price of $72.60 and a two-hundred day moving average price of $63.33.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. Analysts expect that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. Wells Fargo & Company’s payout ratio is presently 33.26%.

Wells Fargo & Company 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.