Welch Group LLC Increases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Welch Group LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 0.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,545 shares of the financial services provider’s stock after buying an additional 185 shares during the quarter. Welch Group LLC’s holdings in Wells Fargo & Company were worth $1,517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WFC. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. bought a new stake in Wells Fargo & Company in the third quarter worth $34,000. Finally, FSA Wealth Management LLC purchased a new position in Wells Fargo & Company in the third quarter worth about $34,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $78.14 on Tuesday. The stock has a market capitalization of $260.17 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.19 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $79.29. The firm’s 50-day moving average price is $73.59 and its two-hundred day moving average price is $64.78.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period last year, the company earned $0.86 earnings per share. The company’s revenue was down .5% on a year-over-year basis. On average, equities analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Wall Street Analyst Weigh In

Several analysts have issued reports on WFC shares. Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler boosted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Truist Financial raised their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.39.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.