DKM Wealth Management Inc. Takes Position in Wells Fargo & Company (NYSE:WFC)

DKM Wealth Management Inc. purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,565 shares of the financial services provider’s stock, valued at approximately $531,000. Wells Fargo & Company accounts for approximately 0.5% of DKM Wealth Management Inc.’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth $30,000. Rakuten Securities Inc. increased its holdings in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on WFC shares. Compass Point upped 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. Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Piper Sandler upped their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $74.97.

Wells Fargo & Company Trading Down 0.7 %

Shares of WFC opened at $71.27 on Wednesday. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a market capitalization of $232.72 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock’s fifty day simple moving average is $75.60 and its 200 day simple moving average is $70.42.

Wells Fargo & Company (NYSE:WFC) last issued its 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts forecast 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. Investors of record on Tuesday, January 7th were given 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 2.24%. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.