3,473 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Sprinkle Financial Consultants LLC

Sprinkle Financial Consultants LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,473 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFC. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the 3rd quarter valued at approximately $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $30,000. Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Wells Fargo & Company in the third quarter worth $34,000. Finally, FSA Wealth Management LLC bought a new position in Wells Fargo & Company during the third quarter worth $34,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 0.8 %

Shares of WFC stock opened at $80.76 on Friday. The company has a market capitalization of $268.89 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $47.47 and a 12-month 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. The firm has a 50-day moving average price of $73.80 and a 200 day moving average price of $65.28.

Wells Fargo & Company (NYSE:WFC) last announced its 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. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. Research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of research reports. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Evercore ISI increased their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. UBS Group raised their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.39.

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.