Diversify Wealth Management LLC Purchases 7,945 Shares of Wells Fargo & Company (NYSE:WFC)

Diversify Wealth Management LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 33.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,350 shares of the financial services provider’s stock after buying an additional 7,945 shares during the quarter. Diversify Wealth Management LLC’s holdings in Wells Fargo & Company were worth $2,193,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Eldred Rock Partners LLC lifted its stake in Wells Fargo & Company by 0.3% in the fourth quarter. Eldred Rock Partners LLC now owns 151,919 shares of the financial services provider’s stock worth $10,681,000 after acquiring an additional 478 shares during the period. City Holding Co. raised its holdings in shares of Wells Fargo & Company by 25.9% in the 4th quarter. City Holding Co. now owns 1,460 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 300 shares in the last quarter. Annex Advisory Services LLC lifted its position in shares of Wells Fargo & Company by 10.0% in the 4th quarter. Annex Advisory Services LLC now owns 5,001 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 455 shares during the period. Brady Martz Wealth Solutions LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $336,000. Finally, Artemis Investment Management LLP increased its holdings in Wells Fargo & Company by 410.8% during the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after buying an additional 1,105,679 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on WFC shares. 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 report on Thursday, January 16th. The Goldman Sachs Group raised their price objective 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. Evercore ISI increased their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays lifted 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. Finally, Piper Sandler increased their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Up 1.7 %

WFC stock opened at $77.22 on Tuesday. The company has a market capitalization of $257.11 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13. The firm’s fifty day simple moving average is $72.74 and its 200-day simple moving average is $63.48. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The company 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 14.43% and a return on equity of 12.25%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 earnings per share. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.45 earnings per share for the current year.

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.