According to the most recent filing that Clear Investment Research LLC made with the Securities and Exchange Commission in Form 13F, the third quarter saw the purchase of a new interest in Wells Fargo & Company (NYSE: WFC). This information was presented in the most recent quarterly report from the company (SEC). The company spent approximately 110000 dollars to acquire 2,734 shares in the financial services provider, bringing the total amount spent to approximately 110000 dollars.
A number of the company’s other institutional investors have made changes in the past few years to the proportion of the company’s stock they own. Truvestments Capital LLC increased its stake in Wells Fargo & Company during the second quarter by investing approximately $26,000 to purchase additional company stock shares. One of the company’s accomplishments was a 66.6% increase in the proportion of Wells Fargo & Company stock that Financial Management Professionals, Inc. owned as of the third quarter. Financial Management Professionals Inc. now has 688 shares in the financial services provider after purchasing an additional 275 shares during the most recent quarter. The value of the stock is $28,000, and the company has spent the most recent quarter purchasing additional shares. During the second quarter, Destiny Wealth Partners LLC amassed a 71.6% increase in the proportion of shares in Wells Fargo & Company that it owned. Destiny Wealth Partners LLC now has 767 shares held by the financial services provider due to the purchase of the additional 673 shares.
Each share is valued at $30,000, which brings the total value of the company’s stock holdings to $30,000. Tortoise Investment Management LLC increased the amount of Wells Fargo & Company stock owned by 100.0% during the second quarter. Following the acquisition of an additional 400 shares during the most recent quarter, Tortoise Investment Management LLC now holds a total of 800 shares, resulting in a market valuation of $31,000 for the business. Orion Capital Management LLC increased the proportion of Wells Fargo & Company shares it owned by 125.0% during the third quarter. This brings us to the last point we will discuss. After making an additional purchase of 500 shares during the most recent quarter, Orion Capital Management LLC now owns a total of 900 shares, with a market value of $36,000. 72.24 institutional investors and hedge funds own a percent of the company’s stock.
When trading started on Friday, the price of a share of Wells Fargo & Company stock was $41.25 per share. Wells Fargo & Company has a debt-to-equity ratio of 0.99, a current ratio of 0.82, and a quick ratio of 0.82. Each of these ratios is equal to 0.82. Wells Fargo & Company’s stock hit a low of $36.54 during the past 52 weeks, while it reached a high of $60.30 during that same period. Because the company has a market value of $157.18 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 0.84, and a beta value of 1.18, it is an excellent investment. Furthermore, the company’s stock’s price-to-earnings ratio (PE ratio) is 11.12. The company’s moving average price over the previous 50 days is $44.07, and the moving average price over the previous 200 days is $43.40.
The most recent quarterly earnings report for Wells Fargo & Company (NYSE: WFC) was made available to the general public on Friday, October 14th. The company that provides financial services reported earnings per share for the quarter of $1.30, which was $0.21 higher than the consensus expectation of $1.09, according to the market. The return on equity for Wells Fargo & Company was 10.95 percent, and the company’s net margin was 19.95 percent, indicating that the company did very well. The revenue the company brought in for the quarter was $19.51 billion, which is significantly higher than the estimated $18.78 billion that the analysts came up with. The company reported $1.17 per share earnings for the same quarter in the prior year’s financial statements. The company’s quarterly sales showed an increase of 3.6% compared to the results achieved in the same quarter of the previous year. Sell-side analysts have predicted that Wells Fargo & Company will generate $3.11 in profits per share for the current fiscal year. These estimates were based on the company’s historical performance.
In addition, on December 1st, the company announced and distributed a quarterly dividend, which was then paid to shareholders. This dividend was paid out to shareholders. On Friday, November 4th, dividend payments were made to shareholders whose information was already on record for $0.30 each. This results in a dividend payment of $1.20 when calculated on an annualized basis, with a dividend yield of 2.91%. This dividend was considered to have been paid out before November 3’s dividend, which was paid out on December 1st and distributed to shareholders. On Friday, November 4th, dividend payments were made to shareholders whose information was already on record for $0.30 each. This results in a dividend payment of $1.20 when calculated on an annualized basis, with a dividend yield of 2.91%. This dividend was considered to have been distributed before November 3rd, even though it wasn’t paid out until later. At this time, the dividend payout ratio (DPR) for Wells Fargo & Company is 31.17 percent.
Several different research companies have recently provided commentary on WFC-related topics. The price target that JPMorgan Chase & Co. has set for Wells Fargo & Company has increased from $46.50 to $49.50 due to an announcement made in a research report published on November 2nd. In a research report published on December 15th, Morgan Stanley lowered their “overweight” rating on Wells Fargo & Company shares and their price target on those shares, which they had previously set at $60.00, to $58.00. The report was based on the company’s previous price target of $60.00. StockNews.com initiated its coverage of Wells Fargo & Company with the publication of a research note on October 12th, which marked the beginning of the website’s coverage of the company. They advised their clients to “hold” the stock moving forward. The “hold” recommendation that Odeon Capital Group had previously issued for shares of Wells Fargo & Company has been replaced with a “buy” recommendation in a research report published on Tuesday. In addition, they decided that the price target for each share of the company should be $51.79. In research that was made public on Wednesday, December 21st, Citigroup lowered their price target on Wells Fargo & Company shares from $50.00 to $48:00 while maintaining their “buy” rating on the company’s stock. This was the last item on the agenda. Eleven market researchers have suggested that investors purchase company shares, while only three have suggested that investors keep the same amount of holdings they already have. According to Bloomberg.com, the stock is currently rated as having an average recommendation of “Moderate Buy,” and the price target for the company has been determined to be $54.39 by consensus.
Wells Fargo & Company is a multinational banking and financial services corporation operating in the United States of America and several other countries worldwide. The company provides banking, investment, mortgage, consumer, and business finance products and services. The company’s operations can be divided into four categories: consumer banking and lending, commercial banking, corporate and investment banking, and wealth management and investment advisory services.