Integrated Advisors Network LLC Decreases Position in Wells Fargo & Company (NYSE:WFC)

Integrated Advisors Network LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,469 shares of the financial services provider's stock after selling 6,178 shares during the period. Integrated Advisors Network LLC's holdings in Wells Fargo & Company were worth $1,648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Spinnaker Trust lifted its position in Wells Fargo & Company by 1.8% in the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock valued at $520,000 after buying an additional 130 shares during the last quarter. Shakespeare Wealth Management LLC raised its position in shares of Wells Fargo & Company by 0.9% during the 4th quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider's stock worth $972,000 after acquiring an additional 130 shares in the last quarter. MONECO Advisors LLC lifted its position in shares of Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock worth $493,000 after buying an additional 134 shares during the last quarter. Safeguard Investment Advisory Group LLC boosted its stake in Wells Fargo & Company by 2.4% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock valued at $410,000 after acquiring an additional 137 shares in the last quarter. Finally, Crown Wealth Group LLC grew its stake in Wells Fargo & Company by 2.2% during the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock worth $467,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WFC. Barclays reduced their price target on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Bank of America decreased their price target on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Raymond James decreased their target price on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $75.73.

Wells Fargo & Company Trading Up 0.1%

WFC stock traded up $0.11 during trading on Friday, reaching $74.62. The company had a trading volume of 17,037,870 shares, compared to its average volume of 17,441,691. The company has a market cap of $242.83 billion, a P/E ratio of 13.87, a PEG ratio of 1.18 and a beta of 1.13. 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 has a 50 day moving average of $70.07 and a 200 day moving average of $72.90. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50.

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

Wells Fargo & Company announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 29th that allows the company to buyback $40.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 17.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. Wells Fargo & Company's payout ratio is presently 28.73%.

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.