Hikari Power Ltd Has $6.42 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Hikari Power Ltd reduced its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 27.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,460 shares of the financial services provider's stock after selling 49,880 shares during the quarter. Wells Fargo & Company comprises approximately 0.6% of Hikari Power Ltd's portfolio, making the stock its 27th biggest position. Hikari Power Ltd's holdings in Wells Fargo & Company were worth $6,421,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WFC. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $25,000. Arlington Trust Co LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider's stock worth $26,000 after purchasing an additional 356,620 shares during the period. Studio Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the first quarter worth $28,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded up $0.77 during midday trading on Wednesday, reaching $57.18. 18,817,367 shares of the company were exchanged, compared to its average volume of 18,696,400. The firm's 50-day simple moving average is $55.42 and its 200-day simple moving average is $48.61. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $58.44. The company has a market capitalization of $202.44 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 1.15 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period last year, the company earned $1.23 EPS. The firm's quarterly revenue was up .6% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 4.86 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company's payout ratio is 29.23%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WFC. Odeon Capital Group downgraded Wells Fargo & Company from a "buy" rating to a "hold" rating and set a $48.80 price target for the company. in a report on Thursday, January 18th. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, April 1st. Morgan Stanley increased their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an "overweight" rating in a research report on Monday. HSBC increased their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a "hold" rating in a research report on Thursday, March 28th. Finally, Argus increased their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday. Thirteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $58.85.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.