Avantax Planning Partners Inc. Grows Stock Position in Wells Fargo & Company (NYSE:WFC)

Avantax Planning Partners Inc. lifted its stake in Wells Fargo & Company (NYSE:WFC) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,765 shares of the financial services provider’s stock after buying an additional 1,204 shares during the period. Avantax Planning Partners Inc.’s holdings in Wells Fargo & Company were worth $826,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $26,000. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth about $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. Finally, Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler boosted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Citigroup boosted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley boosted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Performance

WFC stock opened at $67.33 on Wednesday. The stock has a market capitalization of $221.40 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock’s 50 day simple moving average is $75.96 and its 200 day simple moving average is $68.74.

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

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.38%. Wells Fargo & Company’s dividend payout ratio (DPR) 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.