Wells Fargo & Company $WFC Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 16.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,191 shares of the financial services provider’s stock after selling 35,000 shares during the quarter. Wells Fargo & Company makes up 3.5% of Alpine Woods Capital Investors LLC’s portfolio, making the stock its 4th largest holding. Alpine Woods Capital Investors LLC’s holdings in Wells Fargo & Company were worth $14,936,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Access Investment Management LLC bought a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC boosted its stake in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $27,000. 1248 Management LLC bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth $31,000. Finally, Kilter Group LLC bought a new stake in shares of Wells Fargo & Company in the 2nd quarter worth $31,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $95.28 on Thursday. The company’s fifty day moving average is $87.46 and its two-hundred day moving average is $82.77. The company has a market cap of $299.09 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 0.98 and a beta of 1.11. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $95.85. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. The firm had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.Wells Fargo & Company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.42 earnings per share. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of research analyst reports. Truist Financial lifted their target price on Wells Fargo & Company from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Bank of America lifted their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. TD Cowen boosted their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Finally, Barclays lifted their price target on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average target price of $92.04.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.