Hidden Cove Wealth Management LLC Purchases Shares of 5,554 Wells Fargo & Company (NYSE:WFC)

Hidden Cove Wealth Management LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,554 shares of the financial services provider’s stock, valued at approximately $390,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. purchased a new stake in Wells Fargo & Company in the 3rd quarter valued at $34,000. Finally, FSA Wealth Management LLC bought a new position in Wells Fargo & Company during the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $79.22 on Thursday. The firm has a 50-day moving average price of $74.08 and a 200-day moving average price of $65.78. Wells Fargo & Company has a twelve month low of $47.59 and a twelve 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 company has a market capitalization of $263.76 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating 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%. 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. Equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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 paid a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

WFC has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Barclays upped their price objective 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. Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $73.39.

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.