Avidian Wealth Enterprises LLC Buys 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% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Kentucky Trust Co purchased a new position in Wells Fargo & Company during the 4th quarter valued at approximately $806,000. Gladstone Institutional Advisory LLC boosted its position in shares of Wells Fargo & Company by 18.3% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 40,687 shares of the financial services provider’s stock valued at $2,858,000 after acquiring an additional 6,284 shares during the last quarter. TFB Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $214,000. Capital Advisors Inc. OK purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $223,000. Finally, Certuity LLC increased its position in Wells Fargo & Company by 1.9% in the fourth quarter. Certuity LLC now owns 312,620 shares of the financial services provider’s stock worth $21,958,000 after purchasing an additional 5,709 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $79.22 on Thursday. The firm’s 50 day simple moving average is $74.08 and its 200-day simple moving average is $65.78. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a one year low of $47.59 and a one year high of $81.50. The firm has a market cap of $263.76 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18.

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

Wells Fargo & Company Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have commented on WFC. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. UBS Group upped their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Citigroup lifted their target price 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, Evercore ISI boosted 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. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $73.39.

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.