Centennial Wealth Advisory LLC Lowers Stake in Wells Fargo & Company (NYSE:WFC)

Centennial Wealth Advisory LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,525 shares of the financial services provider’s stock after selling 134 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Wells Fargo & Company were worth $248,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Massachusetts Wealth Management raised its holdings in shares of Wells Fargo & Company by 3.9% in the fourth quarter. Massachusetts Wealth Management now owns 32,477 shares of the financial services provider’s stock valued at $2,281,000 after acquiring an additional 1,225 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Wells Fargo & Company by 17.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 349,566 shares of the financial services provider’s stock valued at $23,326,000 after acquiring an additional 52,858 shares in the last quarter. Lockheed Martin Investment Management Co. raised its holdings in shares of Wells Fargo & Company by 10.8% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 307,800 shares of the financial services provider’s stock valued at $21,620,000 after acquiring an additional 29,900 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in shares of Wells Fargo & Company by 95.2% in the fourth quarter. Y.D. More Investments Ltd now owns 4,413 shares of the financial services provider’s stock valued at $310,000 after acquiring an additional 2,152 shares in the last quarter. Finally, Stratos Investment Management LLC raised its holdings in shares of Wells Fargo & Company by 8.6% in the fourth quarter. Stratos Investment Management LLC now owns 9,666 shares of the financial services provider’s stock valued at $679,000 after acquiring an additional 762 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $80.07 on Thursday. The business’s 50 day moving average price is $73.66 and its 200 day moving average price is $65.06. The firm has a market cap of $266.58 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.19 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $80.35. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. On average, sell-side analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

WFC has been the subject of several recent research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Piper Sandler boosted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.39.

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.