Wells Fargo & Company (NYSE:WFC) Shares Purchased by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. increased its position in Wells Fargo & Company (NYSE:WFC) by 10.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 307,800 shares of the financial services provider’s stock after buying an additional 29,900 shares during the quarter. Wells Fargo & Company comprises 0.9% of Lockheed Martin Investment Management Co.’s holdings, making the stock its 27th largest position. Lockheed Martin Investment Management Co.’s holdings in Wells Fargo & Company were worth $21,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank grew its holdings in Wells Fargo & Company by 4.4% during the 3rd quarter. Czech National Bank now owns 693,384 shares of the financial services provider’s stock worth $39,169,000 after acquiring an additional 28,976 shares in the last quarter. Diversified Trust Co grew its stake in Wells Fargo & Company by 10.4% in the third quarter. Diversified Trust Co now owns 24,335 shares of the financial services provider’s stock worth $1,375,000 after purchasing an additional 2,294 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in Wells Fargo & Company by 4.0% in the third quarter. Miracle Mile Advisors LLC now owns 21,185 shares of the financial services provider’s stock worth $1,197,000 after purchasing an additional 824 shares in the last quarter. City Center Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter valued at about $273,000. Finally, Mather Group LLC. raised its stake in Wells Fargo & Company by 7.4% during the third quarter. Mather Group LLC. now owns 20,134 shares of the financial services provider’s stock valued at $1,137,000 after buying an additional 1,391 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $79.56 on Wednesday. The company has a market capitalization of $264.88 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a fifty day moving average of $73.61 and a 200-day moving average of $64.92. Wells Fargo & Company has a one year low of $47.45 and a one year high of $79.85.

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

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Analyst Upgrades and Downgrades

A number of research firms have commented on WFC. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Tuesday, October 8th. Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus 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.