Lockheed Martin Investment Management Co. Increases Position in Wells Fargo & Company (NYSE:WFC)

Lockheed Martin Investment Management Co. boosted its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 10.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 307,800 shares of the financial services provider's stock after purchasing an additional 29,900 shares during the quarter. Wells Fargo & Company accounts for about 0.9% of Lockheed Martin Investment Management Co.'s portfolio, making the stock its 27th largest holding. Lockheed Martin Investment Management Co.'s holdings in Wells Fargo & Company were worth $21,620,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in WFC. Cardinal Capital Management Inc. boosted its stake in Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider's stock valued at $32,505,000 after purchasing an additional 11,037 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock valued at $36,055,000 after purchasing an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp lifted its holdings in shares of Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock worth $10,031,000 after buying an additional 26,320 shares in the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of Wells Fargo & Company by 16.4% in the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider's stock worth $7,504,000 after purchasing an additional 18,717 shares during the period. Finally, Argus Investors Counsel Inc. boosted its position in shares of Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider's stock valued at $1,780,000 after acquiring an additional 8,107 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, December 9th. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Evercore ISI raised their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 0.7 %

WFC traded up $0.60 during trading on Wednesday, hitting $80.07. 17,929,853 shares of the stock were exchanged, compared to its average volume of 15,029,855. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $80.35. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a 50 day simple moving average of $73.66 and a 200 day simple moving average of $65.06. The firm has a market cap of $266.58 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.19 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend 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.