Asset Planning Inc Purchases New Shares in Wells Fargo & Company (NYSE:WFC)

Asset Planning Inc purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,957 shares of the financial services provider’s stock, valued at approximately $208,000.

Other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company in the third quarter valued at about $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company during the 4th quarter worth about $32,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Wells Fargo & Company during the 3rd quarter worth about $34,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC opened at $78.76 on Friday. The stock has a market capitalization of $262.23 billion, a P/E ratio of 14.64, a P/E/G ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a twelve month low of $47.96 and a twelve month high of $81.50. The company has a 50 day moving average of $74.20 and a 200-day moving average of $65.87. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 annualized dividend and a dividend yield of 2.03%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Piper Sandler boosted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Morgan Stanley boosted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Citigroup boosted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company 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.