Smith Capital Management Inc. AR ADV Has $272,000 Stock Holdings in Wells Fargo & Co (NYSE:WFC)

Smith Capital Management Inc. AR ADV decreased its position in Wells Fargo & Co (NYSE:WFC) by 17.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,048 shares of the financial services provider’s stock after selling 1,033 shares during the period. Smith Capital Management Inc. AR ADV’s holdings in Wells Fargo & Co were worth $272,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Evolution Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Co by 119.5% in the 4th quarter. Evolution Wealth Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $30,000 after buying an additional 306 shares during the period. Howard Wealth Management LLC acquired a new position in shares of Wells Fargo & Co in the 4th quarter valued at $35,000. Carmichael Hill & Associates Inc. acquired a new position in shares of Wells Fargo & Co in the 4th quarter valued at $38,000. Prime Capital Investment Advisors LLC grew its holdings in shares of Wells Fargo & Co by 257.1% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 750 shares of the financial services provider’s stock valued at $40,000 after buying an additional 540 shares during the period. Finally, MV Capital Management Inc. grew its holdings in shares of Wells Fargo & Co by 49.3% in the 3rd quarter. MV Capital Management Inc. now owns 803 shares of the financial services provider’s stock valued at $41,000 after buying an additional 265 shares during the period. 71.91% of the stock is owned by institutional investors.

NYSE:WFC traded down $1.67 on Thursday, hitting $42.47. 41,165,456 shares of the company’s stock were exchanged, compared to its average volume of 21,576,912. The firm has a 50-day moving average price of $48.50 and a 200-day moving average price of $50.09. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.87 and a quick ratio of 0.85. Wells Fargo & Co has a 52 week low of $42.43 and a 52 week high of $54.75. The company has a market cap of $190.83 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 1.03 and a beta of 1.12.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Tuesday, January 14th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.17). Wells Fargo & Co had a return on equity of 12.11% and a net margin of 18.81%. The business had revenue of $19.86 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period last year, the firm earned $1.21 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, research analysts expect that Wells Fargo & Co will post 4.08 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 7th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $2.04 annualized dividend and a yield of 4.80%. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 46.58%.

Several equities analysts have recently issued reports on the stock. UBS Group decreased their price target on shares of Wells Fargo & Co from $52.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Morgan Stanley decreased their price target on shares of Wells Fargo & Co from $56.00 to $51.00 and set an “equal weight” rating for the company in a report on Wednesday, January 15th. TheStreet lowered shares of Wells Fargo & Co from a “b” rating to a “c+” rating in a report on Wednesday, February 12th. Robert W. Baird raised shares of Wells Fargo & Co from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a report on Tuesday, January 28th. Finally, Citigroup boosted their price target on shares of Wells Fargo & Co from $48.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Seven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.88.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

See Also: How Do I Invest in Dividend Stocks

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Co (NYSE:WFC).

Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.