Institute for Wealth Management LLC. Sells 525 Shares of Wells Fargo & Company (NYSE:WFC)

Institute for Wealth Management LLC. decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.3% in the 4th quarter, Holdings Channel reports. The firm owned 7,845 shares of the financial services provider’s stock after selling 525 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Wells Fargo & Company were worth $551,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Income Research & Management bought a new position in Wells Fargo & Company during the 3rd quarter worth approximately $211,000. Mattson Financial Services LLC bought a new position in Wells Fargo & Company during the 2nd quarter worth approximately $25,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $26,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $32,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WFC. Truist Financial raised their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. UBS Group raised their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

WFC opened at $78.81 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $262.40 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 1.18 and a beta of 1.18. The firm’s fifty day moving average price is $73.53 and its two-hundred day moving average price is $64.58. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $79.29.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wells Fargo & 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.