Acorn Wealth Advisors LLC Sells 275 Shares of Wells Fargo & Company (NYSE:WFC)

Acorn Wealth Advisors LLC decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,967 shares of the financial services provider’s stock after selling 275 shares during the period. Acorn Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $279,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WFC. BankPlus Trust Department purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $35,000. Wealthstream Advisors Inc. grew its holdings in Wells Fargo & Company by 15.8% during the 4th quarter. Wealthstream Advisors Inc. now owns 7,179 shares of the financial services provider’s stock valued at $504,000 after buying an additional 981 shares in the last quarter. Crestwood Advisors Group LLC raised its position in shares of Wells Fargo & Company by 8.8% during the fourth quarter. Crestwood Advisors Group LLC now owns 40,277 shares of the financial services provider’s stock valued at $2,829,000 after buying an additional 3,260 shares during the last quarter. Mainstay Capital Management LLC ADV lifted its holdings in shares of Wells Fargo & Company by 30.9% in the fourth quarter. Mainstay Capital Management LLC ADV now owns 19,832 shares of the financial services provider’s stock worth $1,393,000 after buying an additional 4,680 shares in the last quarter. Finally, Colonial River Investments LLC boosted its position in shares of Wells Fargo & Company by 5.3% during the fourth quarter. Colonial River Investments LLC now owns 14,537 shares of the financial services provider’s stock worth $1,021,000 after acquiring an additional 730 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of a number of research reports. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Evercore ISI lifted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Piper Sandler lifted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley upped their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $75.95 on Wednesday. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. 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 $75.40 and a 200-day moving average price of $67.44. The firm has a market capitalization of $252.87 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.