Wells Fargo & Company (NYSE:WFC) Shares Sold by Fayez Sarofim & Co

Fayez Sarofim & Co decreased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 30.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,853 shares of the financial services provider's stock after selling 25,000 shares during the quarter. Fayez Sarofim & Co's holdings in Wells Fargo & Company were worth $3,993,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $26,000. Investment Counsel Co. of Nevada purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth $28,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, Rakuten Securities Inc. raised its position in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after buying an additional 237 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WFC shares. Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a report on Thursday, March 13th. Truist Financial lowered their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Barclays dropped their price objective on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Citigroup cut their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, Piper Sandler reduced their target price on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.34.

Wells Fargo & Company Stock Performance

NYSE:WFC traded up $0.16 during mid-day trading on Friday, reaching $69.72. 17,768,814 shares of the stock were exchanged, compared to its average volume of 17,467,036. The stock has a market capitalization of $227.65 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a 50 day simple moving average of $70.01 and a 200-day simple moving average of $71.43. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. Wells Fargo & Company's revenue for the quarter was down 3.4% on a year-over-year basis. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.29%. Wells Fargo & Company's dividend payout ratio (DPR) is 28.73%.

Wells Fargo & Company Company Profile

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.