Angeles Wealth Management LLC Has $3.12 Million Stake in Wells Fargo & Company (NYSE:WFC)

Angeles Wealth Management LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 199.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,469 shares of the financial services provider’s stock after acquiring an additional 29,604 shares during the quarter. Angeles Wealth Management LLC’s holdings in Wells Fargo & Company were worth $3,124,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. 17 Capital Partners LLC raised its holdings in Wells Fargo & Company by 51.2% during the 4th quarter. 17 Capital Partners LLC now owns 5,923 shares of the financial services provider’s stock worth $416,000 after buying an additional 2,005 shares during the period. Compass Financial Services Inc bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $117,000. Kestra Private Wealth Services LLC raised its holdings in shares of Wells Fargo & Company by 25.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 98,699 shares of the financial services provider’s stock worth $6,933,000 after acquiring an additional 19,757 shares during the period. Quotient Wealth Partners LLC lifted its position in Wells Fargo & Company by 1.8% in the 4th quarter. Quotient Wealth Partners LLC now owns 12,068 shares of the financial services provider’s stock valued at $848,000 after acquiring an additional 214 shares in the last quarter. Finally, Summit Wealth & Retirement Planning Inc. acquired a new position in Wells Fargo & Company in the 4th quarter worth $226,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Morgan Stanley boosted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods lifted 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 report on Thursday, January 16th. Finally, The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $80.76 on Monday. 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 company has a market capitalization of $268.89 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $47.47 and a 12 month high of $81.50. The stock has a 50 day moving average of $73.89 and a 200-day moving average of $65.47.

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 analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 earnings per share. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.