33,847 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Griffith & Werner Inc.

Griffith & Werner Inc. purchased a new position in Wells Fargo & Company (NYSE:WFC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,847 shares of the financial services provider's stock, valued at approximately $2,377,000. Wells Fargo & Company accounts for about 1.6% of Griffith & Werner Inc.'s investment portfolio, making the stock its 23rd largest position.

Other large investors also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at about $2,802,000. GF Fund Management CO. LTD. bought a new position in Wells Fargo & Company during the fourth quarter valued at approximately $425,000. Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $523,000. WCG Wealth Advisors LLC lifted its stake in shares of Wells Fargo & Company by 3.2% in the 4th quarter. WCG Wealth Advisors LLC now owns 47,635 shares of the financial services provider's stock valued at $3,346,000 after purchasing an additional 1,463 shares during the last quarter. Finally, McMill Wealth Management bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $242,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their price target on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Barclays decreased their price objective on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday, April 14th. TD Cowen assumed coverage on Wells Fargo & Company in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price target for the company. Finally, Citigroup cut their price objective 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. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and an average price target of $75.73.

Wells Fargo & Company Trading Up 0.3%

Shares of NYSE WFC traded up $0.24 during midday trading on Thursday, reaching $73.97. The stock had a trading volume of 5,058,415 shares, compared to its average volume of 17,406,485. The company's 50 day moving average price is $70.06 and its 200 day moving average price is $72.88. The firm has a market cap of $240.71 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. 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 has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. During the same period in the previous year, the firm earned $1.20 EPS. The firm's quarterly revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company announced that its Board of Directors has approved a share repurchase program on Tuesday, April 29th that allows the company to repurchase $40.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 17.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership 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 given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Friday, May 9th. Wells Fargo & Company's payout ratio is currently 28.73%.

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.