Wells Fargo & Company (NYSE:WFC) Shares Bought by Armstrong Advisory Group Inc.

Armstrong Advisory Group Inc. lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 12.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,235 shares of the financial services provider’s stock after purchasing an additional 252 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in Wells Fargo & Company were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in WFC. Burney Co. increased its position in Wells Fargo & Company by 102.0% in the fourth quarter. Burney Co. now owns 73,907 shares of the financial services provider’s stock worth $5,191,000 after buying an additional 37,324 shares during the period. Avity Investment Management Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $248,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Wells Fargo & Company by 5.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,670 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 175 shares during the period. Park Avenue Securities LLC lifted its position in Wells Fargo & Company by 13.6% in the 4th quarter. Park Avenue Securities LLC now owns 120,843 shares of the financial services provider’s stock valued at $8,488,000 after purchasing an additional 14,477 shares during the last quarter. Finally, Kathmere Capital Management LLC boosted its stake in Wells Fargo & Company by 46.8% during the 4th quarter. Kathmere Capital Management LLC now owns 15,069 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 4,802 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $72.17.

Wells Fargo & Company Trading Down 0.0 %

NYSE:WFC opened at $75.94 on Friday. The stock has a fifty day simple moving average of $72.47 and a 200 day simple moving average of $63.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $252.85 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.