Helium Advisors LLC Takes $367,000 Position in Wells Fargo & Company (NYSE:WFC)

Helium Advisors LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,230 shares of the financial services provider's stock, valued at approximately $367,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Wells Fargo & Company in the 4th quarter worth about $3,365,658,000. Capital Research Global Investors increased its stake 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 worth $1,105,218,000 after acquiring an additional 14,210,193 shares during the last quarter. Northern Trust Corp increased its stake in Wells Fargo & Company by 10.7% in the 4th quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock worth $2,411,992,000 after acquiring an additional 3,307,855 shares during the last quarter. Theleme Partners LLP bought a new position in Wells Fargo & Company in the 4th quarter worth about $187,049,000. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $117,280,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 1.5%

NYSE WFC traded up $1.10 on Tuesday, hitting $73.93. The company's stock had a trading volume of 10,987,264 shares, compared to its average volume of 17,373,992. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week 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. The company's 50-day simple moving average is $70.01 and its 200 day simple moving average is $72.86. The firm has a market cap of $240.58 billion, a P/E ratio of 13.74, a PEG ratio of 1.18 and a beta of 1.13.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping 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 business had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same quarter last year, the business posted $1.20 EPS. The business's revenue was down 3.4% on a year-over-year basis. Research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company announced that its board has authorized a stock 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 reacquire up to 17.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed 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 yield of 2.16%. The ex-dividend date of this dividend is Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 28.73%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WFC. Royal Bank of Canada upgraded 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 report on Thursday, March 13th. JPMorgan Chase & Co. reduced their price objective on 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. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Piper Sandler reduced their price objective on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Citigroup reduced their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.73.

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.