Price T Rowe Associates Inc. MD Sells 4,880,331 Shares of Wells Fargo & Company (NYSE:WFC)

Price T Rowe Associates Inc. MD trimmed its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,230,648 shares of the financial services provider's stock after selling 4,880,331 shares during the period. Price T Rowe Associates Inc. MD owned about 1.96% of Wells Fargo & Company worth $3,505,974,000 as of its most recent SEC filing.

• Chevron Stock Concerns: Perspectives Make the Difference

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Financial Corp IN boosted its position in Wells Fargo & Company by 4.9% during the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider's stock worth $226,000 after acquiring an additional 214 shares during the last quarter. CX Institutional boosted its position in Wells Fargo & Company by 1.1% during the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider's stock worth $998,000 after acquiring an additional 217 shares during the last quarter. Cape Investment Advisory Inc. boosted its holdings in Wells Fargo & Company by 3.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider's stock valued at $332,000 after purchasing an additional 219 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its holdings in Wells Fargo & Company by 4.1% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,645 shares of the financial services provider's stock valued at $278,000 after purchasing an additional 224 shares during the last quarter. Finally, ERTS Wealth Advisors LLC boosted its holdings in Wells Fargo & Company by 3.5% in the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider's stock valued at $331,000 after purchasing an additional 228 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 0.1 %

WFC traded down $0.04 during trading hours on Thursday, hitting $57.26. 15,962,151 shares of the company's stock were exchanged, compared to its average volume of 18,064,629. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The firm has a 50 day moving average of $59.38 and a 200 day moving average of $54.00. The firm has a market cap of $199.63 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.53 and a beta of 1.17. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Ad Colonial Metals

The asset beating inflation by 4x

Central Bank Gold Heist In Progress Central banks are buying gold at record rates... and billionaire investors are buying right along with them. Even Warren Buffett put over $500 million into gold. And with the help of a tax and penalty-free "Trump Loophole, " these investors are investing retirement into gold and other precious metals without having to put up any of their own cash. In our Free Precious Metals Guide, we reveal all the details on how the rich use this loophole to protect and growth their retirement wealth in any economy…and show you how you can use it too.

Click here to get your free copy today.

• For Cardinal Health, the Proof Will be in Its Performance

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion during the quarter, compared to analysts' expectations of $20.19 billion. During the same quarter in the previous year, the business posted $1.23 EPS. The firm's revenue was up .6% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.23%.

Wall Street Analysts Forecast Growth

• 3 Staples Stocks to Cushion Lower Consumer Sentiment

Several research firms have weighed in on WFC. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an "overweight" rating in a report on Monday, April 15th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Argus boosted their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a "buy" rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a "neutral" rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, April 1st. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong 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 $58.99.

View Our Latest Analysis on Wells Fargo & Company

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

Further Reading

• Five stocks we like better than Wells Fargo & Company
• How to Read Stock Charts for Beginners
• Dave & Buster’s Stock Offers a Prime Buying Opportunity
• When to Sell a Stock for Profit or Loss
• The FOMC Decision Means Higher Prices for Stocks This Summer
• High Dividend REITs: Are They an Ideal Way to Diversify?
• Here's Why Analysts Boosted Walmart Stock's Valuation

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

→ The asset beating inflation by 4x (From Colonial Metals) (Ad)

Should you invest $1,000 in Wells Fargo & Company right now?

Before you consider Wells Fargo & Company, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wells Fargo & Company wasn't on the list.

While Wells Fargo & Company currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

12 Stocks Corporate Insiders are Abandoning

If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?

Get This Free Report