Wells Fargo & Company $WFC Shares Sold by Tweedy Browne Co LLC

Key Points

• Tweedy Browne Co. LLC sold 22,228 shares of Wells Fargo in Q4 (a 3.8% reduction), leaving it with 559,367 shares worth about $52.13 million and making WFC its sixth-largest holding.
• Analysts have a consensus rating of “Moderate Buy” on Wells Fargo with an average price target of $97.53, and several firms recently issued buy/outperform views (including HSBC and Wolfe Research).
• Wells Fargo reported quarterly EPS $1.60 (beating estimates) and declared a quarterly dividend of $0.45 per share (annualized $1.80, yield ~2.3%; record date May 8, payable June 1).

Tweedy Browne Co LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 559,367 shares of the financial services provider's stock after selling 22,228 shares during the period. Wells Fargo & Company comprises about 4.2% of Tweedy Browne Co LLC's holdings, making the stock its 6th biggest holding. Tweedy Browne Co LLC's holdings in Wells Fargo & Company were worth $52,133,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Diversified Trust Co. boosted its position in shares of Wells Fargo & Company by 59.7% during the fourth quarter. Diversified Trust Co. now owns 35,285 shares of the financial services provider's stock worth $3,289,000 after buying an additional 13,196 shares during the period. Mawer Investment Management Ltd. purchased a new position in Wells Fargo & Company in the third quarter valued at $147,165,000. Guerra Advisors Inc boosted its holdings in Wells Fargo & Company by 43.2% in the third quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider's stock valued at $3,222,000 after purchasing an additional 11,594 shares during the period. AlphaQuest LLC boosted its holdings in Wells Fargo & Company by 1,121.0% in the third quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider's stock valued at $2,018,000 after purchasing an additional 22,107 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Wells Fargo & Company by 52.7% in the third quarter. UMB Bank n.a. now owns 138,862 shares of the financial services provider's stock valued at $11,639,000 after purchasing an additional 47,946 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. HSBC upgraded Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $94.00 target price for the company in a report on Wednesday, April 1st. Wolfe Research reiterated an "outperform" rating and issued a $109.00 target price on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Barclays decreased their target price on Wells Fargo & Company from $113.00 to $108.00 and set an "overweight" rating for the company in a report on Wednesday, April 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Finally, Argus lifted their target price on Wells Fargo & Company from $94.00 to $101.00 and gave the company a "buy" rating in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $97.53.

Wells Fargo & Company Stock Down 1.9%

Shares of NYSE WFC opened at $79.27 on Tuesday. The company has a market capitalization of $242.59 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 0.95 and a beta of 0.96. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. The business has a 50-day moving average of $80.85 and a two-hundred day moving average of $86.21. Wells Fargo & Company has a 1 year low of $71.89 and a 1 year high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.02. The company had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.Wells Fargo & Company's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 EPS. On average, analysts forecast that Wells Fargo & Company will post 6.82 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, May 8th. Wells Fargo & Company's payout ratio is 27.78%.

Insiders Place Their Bets

In other Wells Fargo & Company news, EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $87.72, for a total transaction of $2,193,000.00. Following the completion of the sale, the executive vice president directly owned 79,876 shares of the company's stock, valued at $7,006,722.72. The trade was a 23.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ellen R. Patterson sold 60,000 shares of Wells Fargo & Company stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.40, for a total value of $5,244,000.00. Following the sale, the executive vice president directly owned 169,496 shares of the company's stock, valued at $14,813,950.40. This trade represents a 26.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 115,000 shares of company stock valued at $10,050,000 in the last ninety days. Insiders own 0.14% of the company's stock.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.