Wells Fargo & Company (NYSE:WFC) Shares Purchased by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC increased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 56.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,000 shares of the financial services provider's stock after purchasing an additional 12,319 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Wells Fargo & Company were worth $2,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Empowered Funds LLC raised its holdings in Wells Fargo & Company by 19.1% in the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock worth $13,369,000 after buying an additional 30,510 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Wells Fargo & Company by 37.2% during 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 increased its stake in Wells Fargo & Company by 17.4% in the 3rd 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 raised its position in shares of Wells Fargo & Company by 16.4% during the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider's stock valued at $7,504,000 after buying an additional 18,717 shares during the last quarter. Finally, Argus Investors Counsel Inc. boosted its holdings 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 purchasing an additional 8,107 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

WFC has been the topic of several research reports. Barclays boosted their price target 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. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. UBS Group boosted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Finally, Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $73.39.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded down $0.40 during mid-day trading on Wednesday, reaching $80.38. 13,916,450 shares of the stock traded hands, compared to its average volume of 15,186,192. The stock has a market capitalization of $267.63 billion, a PE ratio of 14.94, a PEG ratio of 1.20 and a beta of 1.18. The business has a 50-day moving average of $74.72 and a 200 day moving average of $66.55. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the firm earned $0.86 EPS. The firm's revenue for the quarter was down .5% on a year-over-year basis. On average, analysts predict that Wells Fargo & Company will post 5.89 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 1.99%. Wells Fargo & Company's dividend payout ratio is currently 29.74%.

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.