PharVision Advisers LLC Buys Shares of 6,495 Wells Fargo & Company (NYSE:WFC)

PharVision Advisers LLC bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,495 shares of the financial services provider's stock, valued at approximately $456,000.

A number of other large investors also recently modified their holdings of the business. Royal Capital Wealth Management LLC raised its holdings in Wells Fargo & Company by 35.8% during the fourth quarter. Royal Capital Wealth Management LLC now owns 12,699 shares of the financial services provider's stock worth $892,000 after acquiring an additional 3,348 shares in the last quarter. Principal Street Partners LLC increased its position in shares of Wells Fargo & Company by 18.9% during the 4th quarter. Principal Street Partners LLC now owns 4,134 shares of the financial services provider's stock worth $290,000 after purchasing an additional 656 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its position in shares of Wells Fargo & Company by 6,675.4% during the 4th quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 413,842 shares of the financial services provider's stock worth $29,068,000 after purchasing an additional 407,734 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $7,024,000. Finally, Waverly Advisors LLC grew its stake in shares of Wells Fargo & Company by 26.0% in the fourth quarter. Waverly Advisors LLC now owns 68,313 shares of the financial services provider's stock valued at $4,798,000 after buying an additional 14,103 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

WFC stock traded down $0.53 during trading hours on Friday, hitting $72.86. 9,260,180 shares of the stock were exchanged, compared to its average volume of 17,460,740. 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 firm has a market capitalization of $237.09 billion, a P/E ratio of 13.54, a P/E/G ratio of 1.18 and a beta of 1.13. The company has a 50-day simple moving average of $70.01 and a two-hundred day simple moving average of $72.82. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company's revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.20 earnings per share. On average, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

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

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be given a $0.40 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. Wells Fargo & Company's payout ratio is 28.73%.

Analyst Upgrades and Downgrades

WFC has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Citigroup dropped their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report 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. lowered their price target 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. Finally, Bank of America lowered their price target on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Seven equities research 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $75.73.

Wells Fargo & 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.