Trilogy Capital Inc. Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Key Points

• Trilogy Capital Inc. has made a new investment of **$216,000** in **Wells Fargo & Company**, acquiring **3,014 shares** in the first quarter of 2023.
• Wells Fargo reported earnings of **$1.54 per share**, surpassing analysts' expectations of **$1.41**, with a revenue of **$20.82 billion** for the recent quarter.
• The company has authorized a **share repurchase plan** of up to **$40 billion**, indicating confidence in the stock's value being potentially undervalued.

Trilogy Capital Inc. purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,014 shares of the financial services provider's stock, valued at approximately $216,000.

Other hedge funds have also bought and sold shares of the company. Assetmark Inc. raised its holdings in shares of Wells Fargo & Company by 9.3% during the first quarter. Assetmark Inc. now owns 590,641 shares of the financial services provider's stock worth $42,402,000 after purchasing an additional 50,264 shares during the last quarter. Brookwood Investment Group LLC purchased a new position in Wells Fargo & Company in the first quarter valued at $1,132,000. GHE LLC grew its position in shares of Wells Fargo & Company by 20.3% in the first quarter. GHE LLC now owns 3,028 shares of the financial services provider's stock valued at $217,000 after purchasing an additional 510 shares during the period. Atria Investments Inc grew its position in shares of Wells Fargo & Company by 3.5% in the first quarter. Atria Investments Inc now owns 229,099 shares of the financial services provider's stock valued at $16,447,000 after purchasing an additional 7,752 shares during the period. Finally, One Wealth Advisors LLC raised its stake in Wells Fargo & Company by 19.4% in the 1st quarter. One Wealth Advisors LLC now owns 33,102 shares of the financial services provider's stock valued at $2,376,000 after purchasing an additional 5,374 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Analysts Set New Price Targets

WFC has been the topic of several recent research reports. Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Bank of America upped their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Cowen reaffirmed a "hold" rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Phillip Securities downgraded shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, Barclays dropped their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and an average target price of $80.39.

Wells Fargo & Company Price Performance

NYSE:WFC traded down $1.29 during mid-day trading on Monday, hitting $83.03. 10,625,988 shares of the company's stock traded hands, compared to its average volume of 17,680,338. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The firm's 50 day simple moving average is $77.86 and its 200 day simple moving average is $74.63. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $84.83. The company has a market cap of $270.19 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating 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 12.29%. The firm had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same period last year, the firm posted $1.33 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company announced that its board has initiated a stock buyback program on Tuesday, April 29th that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are 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 dividend of $0.40 per share. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 1.93%. Wells Fargo & Company's dividend payout ratio (DPR) is currently 27.40%.

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.