Heritage Wealth Management Inc. Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

Heritage Wealth Management Inc. increased its stake in Wells Fargo & Company (NYSE:WFC) by 5.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,955 shares of the financial services provider’s stock after buying an additional 210 shares during the period. Heritage Wealth Management Inc.’s holdings in Wells Fargo & Company were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFC. Two Sigma Advisers LP grew its stake in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after buying an additional 5,237,500 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after buying an additional 1,659,716 shares during the last quarter. Artemis Investment Management LLP boosted its stake in Wells Fargo & Company by 410.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after purchasing an additional 1,105,679 shares during the last quarter. National Pension Service boosted its stake in Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Wells Fargo & Company by 81.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock valued at $111,914,000 after purchasing an additional 889,953 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $78.35 on Friday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock’s fifty day moving average is $75.87 and its 200 day moving average is $67.86. The stock has a market cap of $260.87 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

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 analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the firm earned $0.86 EPS. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

Several analysts have commented on WFC shares. Piper Sandler increased their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley increased their target price 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. Barclays increased their target price 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. Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & 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.