Wells Fargo & Company (NYSE:WFC) Shares Sold by Hikari Power Ltd

Hikari Power Ltd trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 27.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,460 shares of the financial services provider’s stock after selling 49,880 shares during the period. Wells Fargo & Company makes up about 0.6% of Hikari Power Ltd’s holdings, making the stock its 27th biggest holding. Hikari Power Ltd’s holdings in Wells Fargo & Company were worth $6,421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Wells Fargo & Company in the 4th quarter valued at $2,049,693,000. Northern Trust Corp increased its holdings in Wells Fargo & Company by 0.3% in the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock valued at $1,560,755,000 after purchasing an additional 129,300 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Wells Fargo & Company by 129,312.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock valued at $1,085,410,000 after purchasing an additional 26,267,166 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Wells Fargo & Company by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock valued at $1,061,357,000 after purchasing an additional 64,080 shares in the last quarter. Finally, Pzena Investment Management LLC increased its holdings in Wells Fargo & Company by 1.9% in the 3rd quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock valued at $746,484,000 after purchasing an additional 335,560 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

NYSE WFC traded down $0.56 during trading hours on Wednesday, reaching $56.41. The company’s stock had a trading volume of 25,620,002 shares, compared to its average volume of 14,756,598. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The business has a 50-day simple moving average of $55.25 and a 200 day simple moving average of $48.55. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $58.44. The stock has a market cap of $199.71 billion, a PE ratio of 11.78, a PEG ratio of 1.15 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter last year, the company posted $1.23 earnings per share. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Company will post 4.86 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.48%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WFC shares. HSBC raised their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday. Robert W. Baird restated a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research note on Monday, January 8th. Finally, Piper Sandler lowered their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Thirteen 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $58.85.

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.