Tranquilli Financial Advisor LLC Cuts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Tranquilli Financial Advisor LLC lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 9.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,203 shares of the financial services provider’s stock after selling 1,427 shares during the quarter. Tranquilli Financial Advisor LLC’s holdings in Wells Fargo & Company were worth $998,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company in the 3rd quarter valued at approximately $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $32,000. MidAtlantic Capital Management Inc. purchased a new position in Wells Fargo & Company in the third quarter valued at about $34,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.8 %

Shares of WFC opened at $78.14 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The business’s 50 day simple moving average is $73.59 and its 200-day simple moving average is $64.78. The stock has a market capitalization of $260.17 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $79.29.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup raised their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. UBS Group boosted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Tuesday, October 8th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.39.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.