Angeles Investment Advisors LLC Buys New Stake in Wells Fargo & Company (NYSE:WFC)

Angeles Investment Advisors LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,250 shares of the financial services provider’s stock, valued at approximately $228,000.

A number of other hedge funds have also bought and sold shares of WFC. Meridian Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth $504,000. Nwam LLC purchased a new position in Wells Fargo & Company during the 3rd quarter worth approximately $309,000. Great Valley Advisor Group Inc. boosted its stake in shares of Wells Fargo & Company by 2.1% in the third quarter. Great Valley Advisor Group Inc. now owns 23,205 shares of the financial services provider’s stock worth $1,311,000 after buying an additional 487 shares during the last quarter. Algert Global LLC acquired a new stake in Wells Fargo & Company during the third quarter valued at $3,981,000. Finally, Larson Financial Group LLC grew its holdings in Wells Fargo & Company by 21.8% in the third quarter. Larson Financial Group LLC now owns 6,129 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 1,097 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on WFC shares. UBS Group increased 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. Barclays raised their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Compass Point boosted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Thursday, March 13th. Finally, Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Wells Fargo & Company Stock Up 2.4 %

Wells Fargo & Company stock opened at $74.28 on Tuesday. The company’s 50-day moving average price is $76.03 and its two-hundred day moving average price is $69.62. The stock has a market cap of $244.25 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. On average, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend 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.