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

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

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $3,365,658,000. Capital Research Global Investors boosted its holdings in Wells Fargo & Company by 932.0% in the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock valued at $1,105,218,000 after purchasing an additional 14,210,193 shares during the period. Artisan Partners Limited Partnership acquired a new stake in Wells Fargo & Company in the 4th quarter worth $117,026,000. KLP Kapitalforvaltning AS bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $85,031,000. Finally, Korea Investment CORP raised its position in shares of Wells Fargo & Company by 53.9% during the fourth quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock valued at $230,865,000 after buying an additional 1,150,443 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 2.5 %

Shares of WFC opened at $67.91 on Thursday. The business’s fifty day moving average price is $70.44 and its two-hundred day moving average price is $71.26. The firm has a market capitalization of $221.74 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. 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 (NYSE:WFC) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion for the quarter, compared to analysts’ expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. On average, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors 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 (DPR) is 28.73%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WFC. Bank of America decreased their target price on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Raymond James lowered their price objective on Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating on the stock in a research report on Monday, April 14th. Keefe, Bruyette & Woods raised their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Barclays lowered their price target 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. Finally, Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, April 7th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.34.

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.