6,934 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,934 shares of the financial services provider's stock, valued at approximately $493,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Concord Asset Management LLC VA increased its position in shares of Wells Fargo & Company by 89.8% during the first quarter. Concord Asset Management LLC VA now owns 12,755 shares of the financial services provider's stock worth $867,000 after purchasing an additional 6,034 shares in the last quarter. Larson Financial Group LLC boosted its stake in Wells Fargo & Company by 34.0% during the 1st quarter. Larson Financial Group LLC now owns 9,122 shares of the financial services provider's stock worth $655,000 after purchasing an additional 2,314 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in shares of Wells Fargo & Company by 8.7% during the first quarter. Wealthfront Advisers LLC now owns 381,486 shares of the financial services provider's stock worth $27,387,000 after buying an additional 30,531 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC raised its position in shares of Wells Fargo & Company by 2.0% in the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 39,871 shares of the financial services provider's stock valued at $2,862,000 after buying an additional 797 shares during the last quarter. Finally, First Command Advisory Services Inc. lifted its stake in shares of Wells Fargo & Company by 6.8% in the first quarter. First Command Advisory Services Inc. now owns 5,251 shares of the financial services provider's stock worth $377,000 after buying an additional 333 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

NYSE WFC traded down $0.20 during trading on Thursday, reaching $79.71. The company's stock had a trading volume of 15,035,647 shares, compared to its average volume of 17,403,356. The business's fifty day moving average price is $76.85 and its 200-day moving average price is $74.05. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $83.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $259.39 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 1.33 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.33%. The company had revenue of $20.82 billion during the quarter, compared to analysts' expectations of $20.83 billion. During the same quarter last year, the business earned $1.33 EPS. The business's revenue was up .6% on a year-over-year basis. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company declared that its board has authorized a share buyback program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 27.40%.

Analysts Set New Price Targets

WFC has been the subject of a number of recent research reports. Citigroup reaffirmed a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. The Goldman Sachs Group reduced their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a research note on Wednesday. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. TD Cowen began coverage on shares of Wells Fargo & Company in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target on the stock. Finally, Piper Sandler reiterated an "overweight" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.39.

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.