Inkwell Capital LLC Acquires New Holdings in Wells Fargo & Company (NYSE:WFC)

Inkwell Capital LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 48,030 shares of the financial services provider's stock, valued at approximately $3,374,000. Wells Fargo & Company makes up 3.6% of Inkwell Capital LLC's holdings, making the stock its 13th largest holding.

Other institutional investors also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $26,000. Rakuten Securities Inc. boosted its position in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after acquiring an additional 237 shares during the last quarter. Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Compass Point raised their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research report on Thursday, March 13th. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, Barclays increased their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.97.

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Wells Fargo & Company Price Performance

Shares of WFC traded up $1.16 during trading hours on Monday, hitting $71.85. 14,851,165 shares of the company were exchanged, compared to its average volume of 17,131,321. 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 has a one year low of $50.15 and a one year high of $81.50. The company has a market capitalization of $234.59 billion, a PE ratio of 13.35, a PEG ratio of 1.18 and a beta of 1.16. The firm has a fifty day simple moving average of $75.84 and a 200-day simple moving average of $70.14.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for 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 quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. Wells Fargo & Company's dividend 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.