IHT Wealth Management LLC Has $1.14 Million Stake in Wells Fargo & Company (NYSE:WFC)

IHT Wealth Management LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 27.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,255 shares of the financial services provider’s stock after selling 6,228 shares during the quarter. IHT Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of WFC. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $26,000. Investment Counsel Co. of Nevada acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $28,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth $30,000. Finally, Rakuten Securities Inc. raised its stake in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after buying an additional 237 shares during the period. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WFC. Keefe, Bruyette & Woods boosted their price objective on 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. Barclays dropped their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, April 14th. Truist Financial lowered their target price on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Piper Sandler reduced their price objective on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.34.

Wells Fargo & Company Trading Up 2.5 %

Wells Fargo & Company stock opened at $67.91 on Thursday. The stock has a 50-day simple moving average of $70.44 and a 200 day simple moving average of $71.26. The stock has a market capitalization of $221.74 billion, a P/E ratio of 12.62, a PEG ratio of 1.18 and a beta of 1.02. 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 52 week low of $50.15 and a 52 week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period in the previous year, the firm earned $1.20 EPS. The firm’s revenue was down 3.4% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 28.73%.

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.