14,725 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by GAM Holding AG

GAM Holding AG acquired a new position in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 14,725 shares of the financial services provider’s stock, valued at approximately $1,034,000.

A number of other large investors have also modified their holdings of the company. Venturi Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 166.4% in the 4th quarter. Venturi Wealth Management LLC now owns 7,388 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 4,615 shares during the period. Empower Advisory Group LLC increased its holdings in shares of Wells Fargo & Company by 19.4% in the 4th quarter. Empower Advisory Group LLC now owns 95,081 shares of the financial services provider’s stock worth $6,678,000 after acquiring an additional 15,473 shares during the period. Nicholas Hoffman & Company LLC. increased its holdings in shares of Wells Fargo & Company by 0.8% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 28,011 shares of the financial services provider’s stock worth $1,967,000 after acquiring an additional 230 shares during the period. New Jersey Better Educational Savings Trust acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $239,000. Finally, Americana Partners LLC increased its stake in Wells Fargo & Company by 762.2% during the 4th quarter. Americana Partners LLC now owns 75,791 shares of the financial services provider’s stock valued at $5,324,000 after buying an additional 67,001 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of several research analyst reports. Piper Sandler raised their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Compass Point raised their target price 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, Evercore ISI raised their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $80.71 on Wednesday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a 50-day moving average of $74.72 and a two-hundred day moving average of $66.55. The stock has a market cap of $268.72 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 1.22 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

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.