Avidian Wealth Enterprises LLC Acquires 603 Shares of Wells Fargo & Company (NYSE:WFC)

Avidian Wealth Enterprises LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 7.4% during the 4th quarter, Holdings Channel reports. The fund owned 8,763 shares of the financial services provider’s stock after purchasing an additional 603 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Wells Fargo & Company were worth $616,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Pension Service boosted its position in Wells Fargo & Company by 15.2% during the third 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 in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after buying an additional 162,066 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after buying an additional 575,892 shares during the last quarter. Two Sigma Advisers LP boosted its holdings 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 valued at $336,375,000 after buying an additional 5,237,500 shares in the last quarter. Finally, Canoe Financial LP purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $160,529,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $79.22 on Thursday. The company has a 50 day simple moving average of $74.08 and a two-hundred day simple moving average of $65.78. The stock has a market cap of $263.76 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.22 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $47.59 and a 12 month high of $81.50.

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 the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the company posted $0.86 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. As a group, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

WFC has been the subject of a number of analyst reports. UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.