Wells Fargo & Company $WFC Stock Holdings Trimmed by Tweedy Browne Co LLC

Key Points

• Tweedy Browne Co LLC reduced its stake in Wells Fargo by 7.1% in the second quarter, owning 598,781 shares, worth approximately $47.97 million.
• Wells Fargo recently increased its quarterly dividend from $0.40 to $0.45, representing an annual yield of 2.1% with a payout ratio of 30.82%.
• Analysts have set new price targets for Wells Fargo, with the consensus target now at $89.57, indicating a Moderate Buy rating based on recent evaluations.

Tweedy Browne Co LLC lowered its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 598,781 shares of the financial services provider's stock after selling 45,499 shares during the period. Wells Fargo & Company makes up approximately 4.4% of Tweedy Browne Co LLC's holdings, making the stock its 7th largest holding. Tweedy Browne Co LLC's holdings in Wells Fargo & Company were worth $47,974,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wealth Management Partners LLC raised its holdings in shares of Wells Fargo & Company by 3.5% during the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider's stock worth $313,000 after purchasing an additional 128 shares during the period. Verum Partners LLC raised its holdings in shares of Wells Fargo & Company by 1.8% during the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider's stock worth $582,000 after purchasing an additional 128 shares during the period. Motive Wealth Advisors raised its holdings in shares of Wells Fargo & Company by 3.7% during the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider's stock worth $293,000 after purchasing an additional 129 shares during the period. Vivid Wealth Management LLC raised its holdings in shares of Wells Fargo & Company by 0.8% during the second quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider's stock worth $1,381,000 after purchasing an additional 133 shares during the period. Finally, Lynch & Associates IN increased its holdings in shares of Wells Fargo & Company by 2.0% in the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider's stock worth $539,000 after acquiring an additional 135 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $83.97 on Friday. The firm has a fifty day simple moving average of $81.10 and a 200-day simple moving average of $76.82. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $87.47. The stock has a market capitalization of $268.99 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.39 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. Wells Fargo & Company's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 earnings per share. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a $0.45 dividend. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company's payout ratio is presently 30.82%.

Analysts Set New Price Targets

A number of analysts recently weighed in on WFC shares. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a "market perform" rating in a report on Wednesday. Barclays raised their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday. Piper Sandler reissued an "overweight" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. UBS Group lowered their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a "buy" rating on the stock in a research note on Tuesday, October 7th. Finally, Raymond James Financial lowered shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 7th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.57.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.