DKM Wealth Management Inc. Makes New $531,000 Investment in Wells Fargo & Company (NYSE:WFC)

DKM Wealth Management Inc. acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,565 shares of the financial services provider’s stock, valued at approximately $531,000. Wells Fargo & Company makes up 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 made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in Wells Fargo & Company by 28.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,846,015 shares of the financial services provider’s stock valued at $199,904,000 after buying an additional 626,791 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of Wells Fargo & Company by 2.5% during the 4th quarter. Meeder Advisory Services Inc. now owns 61,516 shares of the financial services provider’s stock worth $4,321,000 after purchasing an additional 1,518 shares during the period. Potomac Fund Management Inc. ADV acquired a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $1,958,000. Groupama Asset Managment increased its stake in Wells Fargo & Company by 30.9% during the 4th quarter. Groupama Asset Managment now owns 75,652 shares of the financial services provider’s stock worth $5,327,000 after buying an additional 17,841 shares during the period. Finally, Headlands Technologies LLC increased its stake in shares of Wells Fargo & Company by 1.3% in the fourth quarter. Headlands Technologies LLC now owns 59,180 shares of the financial services provider’s stock worth $4,157,000 after buying an additional 766 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WFC shares. Citigroup cut their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Truist Financial raised their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. UBS Group lifted 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. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Morgan Stanley set a $79.00 price objective on shares of Wells Fargo & Company in a research report on Monday, March 24th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.55.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded down $5.39 during mid-day trading on Thursday, reaching $66.87. 13,140,653 shares of the stock traded hands, compared to its average volume of 17,093,658. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The business’s 50-day moving average is $75.50 and its 200-day moving average is $70.43. The stock has a market capitalization of $218.34 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

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, topping the consensus estimate 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 15.73% and a return on equity of 12.38%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.39%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

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.