Alpha DNA Investment Management LLC Purchases 40,171 Shares of Wells Fargo & Company (NYSE:WFC)

Alpha DNA Investment Management LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 115.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,109 shares of the financial services provider's stock after purchasing an additional 40,171 shares during the quarter. Wells Fargo & Company accounts for 2.0% of Alpha DNA Investment Management LLC's investment portfolio, making the stock its 2nd biggest holding. Alpha DNA Investment Management LLC's holdings in Wells Fargo & Company were worth $5,276,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Spinnaker Trust grew its holdings in Wells Fargo & Company by 1.8% in the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock valued at $520,000 after purchasing an additional 130 shares during the period. Shakespeare Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 0.9% in the fourth quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider's stock valued at $972,000 after purchasing an additional 130 shares during the period. MONECO Advisors LLC boosted its position in Wells Fargo & Company by 1.9% in the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock valued at $493,000 after buying an additional 134 shares during the last quarter. Crown Wealth Group LLC grew its stake in Wells Fargo & Company by 2.2% during the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock valued at $467,000 after purchasing an additional 140 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its position in shares of Wells Fargo & Company by 0.6% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider's stock worth $1,580,000 after buying an additional 144 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $0.65 during midday trading on Friday, reaching $64.63. The company's stock had a trading volume of 18,930,900 shares, compared to its average volume of 17,516,893. The company has a market cap of $211.02 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average price of $71.23 and a 200 day moving average price of $71.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the company posted $1.20 earnings per share. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.48%. Wells Fargo & Company's payout ratio is presently 28.73%.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research reports. Raymond James decreased their price target on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research note on Monday, April 14th. Truist Financial reduced their price objective on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays dropped their target price on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Bank of America dropped their target price on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research report on Thursday, March 13th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.34.

Wells Fargo & Company Company Profile

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.