Wells Fargo & Company (NYSE:WFC) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 28,259.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,001 shares of the financial services provider's stock after purchasing an additional 18,934 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Wells Fargo & Company were worth $1,335,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth $26,000. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter worth about $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. boosted its stake in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after purchasing an additional 237 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Morgan Stanley boosted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Compass Point raised their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Finally, Citigroup dropped their target price on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.18.

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Wells Fargo & Company Price Performance

WFC traded up $1.76 during trading on Monday, hitting $74.28. The company's stock had a trading volume of 10,685,753 shares, compared to its average volume of 16,418,545. 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 firm has a market capitalization of $244.25 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.18 and a beta of 1.16. The business's fifty day simple moving average is $75.95 and its 200 day simple moving average is $69.50. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping 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 company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. The firm's revenue was down .5% compared to the same quarter last year. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's payout ratio is 29.74%.

About Wells Fargo & Company

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.