157,100 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Duquesne Family Office LLC

Duquesne Family Office LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 157,100 shares of the financial services provider's stock, valued at approximately $11,035,000.

A number of other large investors have also recently bought and sold shares of the business. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company in the fourth quarter worth $26,000. Investment Counsel Co. of Nevada bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $28,000. BNP Paribas bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $28,000. 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. Finally, McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter worth approximately $30,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on WFC shares. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. 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 on the stock in a research note on Thursday, March 13th. Piper Sandler decreased their target price on shares of 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. JPMorgan Chase & Co. lowered 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 report on Thursday, April 3rd. Finally, Raymond James cut their price target on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research note on Monday, April 14th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of "Moderate Buy" and an average target price of $75.34.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded down $0.87 during trading on Friday, reaching $72.44. 11,136,882 shares of the company's stock traded hands, compared to its average volume of 17,532,282. The firm's 50-day moving average is $69.06 and its 200 day moving average is $72.12. The company has a market capitalization of $235.73 billion, a P/E ratio of 13.46, a PEG ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS 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 firm had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. During the same period last year, the company earned $1.20 earnings per share. The business's revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, May 9th. Wells Fargo & Company's payout ratio is presently 28.73%.

Wells Fargo & Company declared that its board has approved a share repurchase plan on Tuesday, April 29th that permits the company to repurchase $40.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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.