Wells Fargo & Company (NYSE:WFC) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 13.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,478 shares of the financial services provider’s stock after acquiring an additional 4,999 shares during the period. GAMMA Investing LLC’s holdings in Wells Fargo & Company were worth $2,984,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Mattson Financial Services LLC purchased a new position in Wells Fargo & Company in the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the second quarter valued at $26,000. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the third quarter valued at $29,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth $34,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.1 %

NYSE:WFC opened at $70.19 on Friday. The stock has a market cap of $233.70 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.16. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50-day simple moving average is $71.28 and its 200 day simple moving average is $62.31.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.39 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s payout ratio is currently 33.26%.

Insider Activity

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley dropped their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Citigroup raised 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. Finally, UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.57.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.