Tulsa Wealth Advisors INC Buys New Shares in Wells Fargo & Company $WFC

Tulsa Wealth Advisors INC purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, Holdings Channel reports. The firm purchased 35,627 shares of the financial services provider’s stock, valued at approximately $3,320,000. Wells Fargo & Company accounts for about 1.1% of Tulsa Wealth Advisors INC’s holdings, making the stock its 26th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in WFC. Norges Bank bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $4,512,563,000. Capital Research Global Investors grew its position in Wells Fargo & Company by 4.9% during the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after buying an additional 1,760,484 shares in the last quarter. Legal & General Group Plc increased its stake in Wells Fargo & Company by 0.9% during the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock valued at $1,975,600,000 after acquiring an additional 188,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Wells Fargo & Company by 13.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock valued at $1,922,257,000 after acquiring an additional 2,369,260 shares during the period. Finally, Boston Partners raised its holdings in Wells Fargo & Company by 5.2% in the 4th quarter. Boston Partners now owns 9,606,215 shares of the financial services provider’s stock valued at $895,466,000 after acquiring an additional 477,745 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WFC shares. Piper Sandler reiterated an “overweight” rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. HSBC upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Wednesday, April 1st. The Goldman Sachs Group dropped their price objective on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Jefferies Financial Group initiated coverage on shares of Wells Fargo & Company in a research note on Thursday, March 26th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, KGI Securities lowered shares of Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.24.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $82.31 on Friday. The stock’s fifty day simple moving average is $79.70 and its 200 day simple moving average is $84.59. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The firm has a market cap of $251.89 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 0.96 and a beta of 0.93. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.02. The firm had revenue of $11.62 billion during the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.39 earnings per share. On average, analysts expect that Wells Fargo & Company will post 6.86 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company’s dividend payout ratio is presently 27.78%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.