GFG Capital LLC Has $933,000 Holdings in Wells Fargo & Company (NYSE:WFC)

GFG Capital LLC lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 34.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,286 shares of the financial services provider's stock after selling 6,996 shares during the period. GFG Capital LLC's holdings in Wells Fargo & Company were worth $933,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vontobel Holding Ltd. boosted its holdings in shares of Wells Fargo & Company by 106.8% in the third quarter. Vontobel Holding Ltd. now owns 48,233 shares of the financial services provider's stock valued at $2,725,000 after acquiring an additional 24,911 shares in the last quarter. B.O.S.S. Retirement Advisors LLC bought a new position in Wells Fargo & Company during the 3rd quarter valued at $452,000. Alliance Wealth Advisors LLC increased its position in shares of Wells Fargo & Company by 2.0% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 10,505 shares of the financial services provider's stock valued at $593,000 after purchasing an additional 210 shares during the period. Hengehold Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth $260,000. Finally, Mezzasalma Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 6.9% in the third quarter. Mezzasalma Advisors LLC now owns 4,562 shares of the financial services provider's stock valued at $258,000 after buying an additional 295 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on WFC shares. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Piper Sandler raised their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $73.39.

Wells Fargo & Company Stock Up 0.9 %

Shares of WFC stock traded up $0.73 during trading on Tuesday, hitting $80.71. 15,316,468 shares of the company were exchanged, compared to its average volume of 15,227,039. The business's 50-day simple moving average is $74.55 and its 200 day simple moving average is $66.35. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a market capitalization of $268.72 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 1.22 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.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The company's revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts forecast that Wells Fargo & Company will post 5.89 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. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's payout ratio is currently 29.74%.

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.