GM Advisory Group LLC Buys 10,002 Shares of Wells Fargo & Company (NYSE:WFC)

GM Advisory Group LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 58.4% during the fourth quarter, HoldingsChannel reports. The firm owned 27,131 shares of the financial services provider’s stock after purchasing an additional 10,002 shares during the period. GM Advisory Group LLC’s holdings in Wells Fargo & Company were worth $1,906,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd grew its holdings in shares of Wells Fargo & Company by 28,259.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 19,001 shares of the financial services provider’s stock worth $1,335,000 after purchasing an additional 18,934 shares during the last quarter. Vinva Investment Management Ltd grew its holdings in shares of Wells Fargo & Company by 24.1% in the fourth quarter. Vinva Investment Management Ltd now owns 167,628 shares of the financial services provider’s stock worth $11,803,000 after purchasing an additional 32,506 shares during the last quarter. Stokes Family Office LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $946,000. North Forty Two & Co. bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $750,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $429,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

WFC opened at $71.08 on Wednesday. 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 company has a market cap of $233.72 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The firm’s 50-day moving average price is $75.86 and its 200-day moving average price is $69.19.

Wells Fargo & Company (NYSE:WFC) last posted 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal 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 dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Analyst Ratings Changes

A number of analysts recently weighed in on WFC shares. Morgan Stanley upped their price objective 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. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Thursday, March 13th. Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective 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. Finally, Citigroup upped their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $74.39.

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.