Tweedy Browne Co LLC Sells 22,228 Shares of Wells Fargo & Company $WFC

Tweedy Browne Co LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 559,367 shares of the financial services provider’s stock after selling 22,228 shares during the period. Wells Fargo & Company comprises about 4.2% of Tweedy Browne Co LLC’s holdings, making the stock its 6th largest position. Tweedy Browne Co LLC’s holdings in Wells Fargo & Company were worth $52,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth about $27,000. Marquette Asset Management LLC increased its position in shares of Wells Fargo & Company by 472.4% during the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $28,000. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth about $30,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth about $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $79.27 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. Wells Fargo & Company has a 52-week low of $71.89 and a 52-week high of $97.76. The business’s 50-day moving average price is $80.85 and its 200 day moving average price is $86.21. The firm has a market cap of $242.59 billion, a P/E ratio of 12.23, a P/E/G ratio of 0.95 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The company had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the previous year, the company earned $1.39 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that Wells Fargo & Company will post 6.82 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, May 8th. Wells Fargo & Company’s payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WFC shares. Piper Sandler reiterated an “overweight” rating and set a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Argus lifted their target price on Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. KGI Securities cut Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. CICC Research assumed coverage on Wells Fargo & Company in a report on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price target on the stock. Finally, Barclays lowered their price target on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $97.53.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Bridget E. Engle sold 30,000 shares of Wells Fargo & Company stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total value of $2,613,000.00. Following the sale, the executive vice president owned 83,478 shares of the company’s stock, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of the sale, the executive vice president directly owned 79,876 shares in the company, valued at $7,006,722.72. This represents a 23.84% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 115,000 shares of company stock valued at $10,050,000. 0.14% of the stock is owned by corporate insiders.

About Wells Fargo & Company

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.