DKM Wealth Management Inc. Invests $531,000 in Wells Fargo & Company (NYSE:WFC)

DKM Wealth Management Inc. acquired a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,565 shares of the financial services provider's stock, valued at approximately $531,000. Wells Fargo & Company makes up approximately 0.5% of DKM Wealth Management Inc.'s investment portfolio, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Martingale Asset Management L P raised its position in Wells Fargo & Company by 75.5% during the 3rd quarter. Martingale Asset Management L P now owns 7,599 shares of the financial services provider's stock worth $429,000 after purchasing an additional 3,269 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter worth $428,000. Benjamin Edwards Inc. grew its holdings in shares of Wells Fargo & Company by 320.1% during the third quarter. Benjamin Edwards Inc. now owns 57,459 shares of the financial services provider's stock valued at $3,246,000 after buying an additional 43,782 shares during the last quarter. Concentric Capital Strategies LP boosted its stake in Wells Fargo & Company by 74.3% during the 3rd quarter. Concentric Capital Strategies LP now owns 15,529 shares of the financial services provider's stock valued at $877,000 after purchasing an additional 6,622 shares during the last quarter. Finally, Hilltop Holdings Inc. grew its holdings in Wells Fargo & Company by 46.0% during the third quarter. Hilltop Holdings Inc. now owns 18,376 shares of the financial services provider's stock worth $1,038,000 after buying an additional 5,788 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

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Wells Fargo & Company Stock Up 1.4 %

Shares of WFC stock traded up $1.02 on Wednesday, reaching $72.33. 8,823,973 shares of the stock were exchanged, compared to its average volume of 17,106,851. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a market capitalization of $236.17 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.18 and a beta of 1.16. 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 business's 50 day moving average price is $75.50 and its 200 day moving average price is $70.43.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $20.58 billion. During the same period in the prior year, the business earned $0.86 EPS. The firm's revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

Several analysts have commented on WFC shares. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Citigroup decreased their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Bank of America lowered their price target on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.39.

Wells Fargo & 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.