Angeles Investment Advisors LLC Acquires Shares of 3,250 Wells Fargo & Company (NYSE:WFC)

Angeles Investment Advisors LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, HoldingsChannel reports. The firm purchased 3,250 shares of the financial services provider’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $26,000. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth $29,000. Modus Advisors LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. boosted its stake in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after buying an additional 237 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WFC. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Barclays lifted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, UBS Group lifted their price objective 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. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.18.

Wells Fargo & Company Price Performance

WFC opened at $74.28 on Tuesday. The stock has a market cap of $244.25 billion, a P/E ratio of 13.81, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business has a fifty day moving average of $76.03 and a 200 day moving average of $69.62.

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

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.