Westmount Partners LLC Decreases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Westmount Partners LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 31,352 shares of the financial services provider’s stock after selling 295 shares during the period. Westmount Partners LLC’s holdings in Wells Fargo & Company were worth $2,202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. Brookstone Capital Management increased its stake in Wells Fargo & Company by 10.8% in the fourth quarter. Brookstone Capital Management now owns 17,676 shares of the financial services provider’s stock valued at $1,242,000 after purchasing an additional 1,726 shares during the last quarter. Fiduciary Alliance LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $1,522,000. Czech National Bank increased its position in Wells Fargo & Company by 4.1% during the fourth quarter. Czech National Bank now owns 721,698 shares of the financial services provider’s stock worth $50,692,000 after buying an additional 28,314 shares during the period. West Oak Capital LLC boosted its holdings in shares of Wells Fargo & Company by 696.4% in the fourth quarter. West Oak Capital LLC now owns 108,511 shares of the financial services provider’s stock valued at $7,622,000 after acquiring an additional 94,886 shares during the period. Finally, Highline Wealth Partners LLC increased its holdings in shares of Wells Fargo & Company by 1.3% in the 4th quarter. Highline Wealth Partners LLC now owns 13,659 shares of the financial services provider’s stock valued at $959,000 after acquiring an additional 178 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Stock Up 0.2 %

Shares of WFC stock traded up $0.15 during trading on Monday, hitting $70.11. 4,835,882 shares of the company were exchanged, compared to its average volume of 11,729,695. The firm has a market capitalization of $233.43 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 1.47 and a beta of 1.18. 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 business’s 50-day simple moving average is $72.13 and its 200 day simple moving average is $62.97. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter last year, the company earned $1.39 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, analysts forecast that Wells Fargo & Company will post 5.43 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.28%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Analyst Ratings Changes

WFC has been the subject of a number of recent research reports. Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted 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. Truist Financial started coverage on Wells Fargo & Company in a research note on Tuesday, January 7th. They issued a “buy” rating and a $82.00 price target on the stock. Finally, Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday, October 8th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.92.

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.