Integral Investment Advisors Inc. Sells 3,572 Shares of Wells Fargo & Company (NYSE:WFC)

Integral Investment Advisors Inc. reduced its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 44.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,538 shares of the financial services provider's stock after selling 3,572 shares during the period. Integral Investment Advisors Inc.'s holdings in Wells Fargo & Company were worth $326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Valmark Advisers Inc. boosted its position in shares of Wells Fargo & Company by 5.5% during the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after buying an additional 431 shares during the period. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $1,656,000. Modera Wealth Management LLC boosted its position in Wells Fargo & Company by 14.1% during the fourth quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock valued at $1,444,000 after purchasing an additional 2,548 shares during the last quarter. Cornerstone Advisors LLC boosted its position in Wells Fargo & Company by 2.1% during the fourth quarter. Cornerstone Advisors LLC now owns 204,200 shares of the financial services provider's stock valued at $14,343,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $224,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

NYSE WFC traded down $0.50 during midday trading on Wednesday, hitting $74.95. The company had a trading volume of 16,439,027 shares, compared to its average volume of 17,483,905. The company has a market capitalization of $243.90 billion, a PE ratio of 13.93, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $70.70 and a 200-day moving average price of $72.97. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

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

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

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were paid a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.13%. Wells Fargo & Company's payout ratio is 28.73%.

Analysts Set New Price Targets

Several brokerages recently commented on WFC. Truist Financial reduced their price target on 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. Morgan Stanley increased their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. reduced their price target on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Finally, Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.68.

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.