Sicart Associates LLC Sells 4,300 Shares of Wells Fargo & Company (NYSE:WFC)

Sicart Associates LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 114,025 shares of the financial services provider’s stock after selling 4,300 shares during the quarter. Wells Fargo & Company accounts for about 2.9% of Sicart Associates LLC’s investment portfolio, making the stock its 12th biggest holding. Sicart Associates LLC’s holdings in Wells Fargo & Company were worth $8,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. WINTON GROUP Ltd bought a new stake in Wells Fargo & Company during the second quarter valued at about $225,000. Edgestream Partners L.P. bought a new stake in Wells Fargo & Company during the second quarter valued at about $272,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of Wells Fargo & Company by 16.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 607,195 shares of the financial services provider’s stock worth $34,546,000 after acquiring an additional 86,777 shares during the period. WCG Wealth Advisors LLC boosted its stake in shares of Wells Fargo & Company by 9.9% in the second quarter. WCG Wealth Advisors LLC now owns 46,982 shares of the financial services provider’s stock worth $2,790,000 after acquiring an additional 4,239 shares during the period. Finally, MQS Management LLC boosted its stake in shares of Wells Fargo & Company by 61.1% in the second quarter. MQS Management LLC now owns 9,990 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 3,790 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $75.94 on Friday. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a market cap of $252.85 billion, a PE ratio of 15.79, a P/E/G ratio of 1.39 and a beta of 1.18. The firm has a 50-day simple moving average of $72.47 and a 200 day simple moving average of $63.24.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. Wells Fargo & Company’s payout ratio is presently 33.26%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent analyst reports. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Tuesday, October 8th. Citigroup increased their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Finally, Truist Financial increased their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average target price of $72.17.

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.