Nebula Research & Development LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Nebula Research & Development LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 15,209 shares of the financial services provider's stock, valued at approximately $1,068,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $26,000. Investment Counsel Co. of Nevada acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $28,000. Rakuten Securities Inc. boosted its stake in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after buying an additional 237 shares during the period. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analysts Set New Price Targets

WFC has been the topic of a number of analyst reports. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a report on Thursday, March 13th. Citigroup decreased their target price on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Finally, Truist Financial reduced their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 14th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.34.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $2.16 during midday trading on Friday, reaching $73.97. 10,496,970 shares of the company traded hands, compared to its average volume of 17,506,801. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The firm has a market cap of $241.51 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The firm's 50 day simple moving average is $69.41 and its two-hundred day simple moving average is $71.74. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same quarter in the prior year, the company earned $1.20 earnings per share. Wells Fargo & Company's revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 29th that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 28.73%.

Wells Fargo & Company 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.