Alpha DNA Investment Management LLC Increases Holdings in Wells Fargo & Company (NYSE:WFC)

Alpha DNA Investment Management LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 115.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,109 shares of the financial services provider’s stock after acquiring an additional 40,171 shares during the quarter. Wells Fargo & Company makes up about 2.0% of Alpha DNA Investment Management LLC’s investment portfolio, making the stock its 2nd largest position. Alpha DNA Investment Management LLC’s holdings in Wells Fargo & Company were worth $5,276,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $26,000. Investment Counsel Co. of Nevada acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. boosted its stake in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 237 shares during the last quarter. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth $30,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.0 %

NYSE:WFC opened at $64.63 on Friday. The stock has a 50-day simple moving average of $71.53 and a 200 day simple moving average of $70.98. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a market cap of $211.02 billion, a PE ratio of 12.01, a PEG ratio of 1.18 and a beta of 1.02. 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 (NYSE:WFC) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating 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 last year, the company earned $1.20 earnings per share. The firm’s revenue was down 3.4% compared to the same quarter last year. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. Wells Fargo & Company’s dividend payout ratio is 28.73%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WFC shares. Raymond James reduced their price target on Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating on the stock in a research report on Monday. Piper Sandler decreased their target price on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. Royal Bank of Canada raised shares of 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 note on Thursday, March 13th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.34.

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.