Alpha DNA Investment Management LLC raised its position in Wells Fargo & Company (NYSE:WFC – Free Report) by 36.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,831 shares of the financial services provider’s stock after purchasing an additional 21,674 shares during the quarter. Wells Fargo & Company makes up approximately 1.4% of Alpha DNA Investment Management LLC’s holdings, making the stock its 5th biggest position. Alpha DNA Investment Management LLC’s holdings in Wells Fargo & Company were worth $3,303,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Accredited Investors Inc. boosted its stake in shares of Wells Fargo & Company by 10.0% during the 3rd quarter. Accredited Investors Inc. now owns 20,419 shares of the financial services provider’s stock worth $834,000 after acquiring an additional 1,853 shares in the last quarter. Intelligence Driven Advisers LLC boosted its stake in shares of Wells Fargo & Company by 15.5% during the 3rd quarter. Intelligence Driven Advisers LLC now owns 5,522 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 740 shares in the last quarter. Clearstead Advisors LLC boosted its stake in shares of Wells Fargo & Company by 4.0% during the 3rd quarter. Clearstead Advisors LLC now owns 51,543 shares of the financial services provider’s stock worth $2,106,000 after acquiring an additional 2,003 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Wells Fargo & Company by 15.0% during the 3rd quarter. Metis Global Partners LLC now owns 140,969 shares of the financial services provider’s stock worth $5,760,000 after acquiring an additional 18,405 shares in the last quarter. Finally, HC Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth about $204,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on WFC. Robert W. Baird restated a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research note on Monday, January 8th. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Jefferies Financial Group decreased their target price on Wells Fargo & Company from $48.00 to $43.00 in a research note on Tuesday, October 10th. BMO Capital Markets increased their target price on Wells Fargo & Company from $52.00 to $54.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Finally, Morgan Stanley increased their target price on Wells Fargo & Company from $54.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday. Ten 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.43.
View Our Latest Stock Report on WFC
Insider Buying and Selling
In other Wells Fargo & Company news, Director Richard K. Davis bought 3,500 shares of Wells Fargo & Company stock in a transaction on Thursday, November 9th. The shares were purchased at an average cost of $41.22 per share, for a total transaction of $144,270.00. Following the completion of the acquisition, the director now owns 4,244 shares in the company, valued at approximately $174,937.68. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.07% of the stock is owned by insiders.
Wells Fargo & Company Trading Up 1.7 %
Shares of Wells Fargo & Company stock traded up $0.84 during trading on Tuesday, reaching $51.19. 14,663,958 shares of the company were exchanged, compared to its average volume of 18,398,648. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. Wells Fargo & Company has a twelve month low of $35.25 and a twelve month high of $51.27. The business has a 50-day moving average price of $47.53 and a 200-day moving average price of $44.03. The firm has a market capitalization of $185.90 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 1.05 and a beta of 1.17.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The company had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.30 billion. During the same period last year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 2nd will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.73%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.05%.
Wells Fargo & Company Company Profile
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Further Reading
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