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


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Alpha DNA Investment Management LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,663 shares of the financial services provider’s stock, valued at approximately $80,000.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $1,122,406,000. Sanders Capital LLC grew its stake in shares of Wells Fargo & Company by 352.3% during the fourth quarter. Sanders Capital LLC now owns 46,947,095 shares of the financial services provider’s stock worth $1,523,620,000 after acquiring an additional 36,566,684 shares during the last quarter. FMR LLC grew its stake in shares of Wells Fargo & Company by 28.7% during the fourth quarter. FMR LLC now owns 133,862,824 shares of the financial services provider’s stock worth $4,039,980,000 after acquiring an additional 29,812,530 shares during the last quarter. Dodge & Cox grew its stake in shares of Wells Fargo & Company by 13.3% during the fourth quarter. Dodge & Cox now owns 148,429,020 shares of the financial services provider’s stock worth $4,479,588,000 after acquiring an additional 17,452,785 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Wells Fargo & Company by 8.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 106,531,722 shares of the financial services provider’s stock worth $3,215,092,000 after acquiring an additional 8,301,054 shares during the last quarter. 67.25% of the stock is currently owned by institutional investors.

Shares of WFC stock opened at $39.99 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.87 and a quick ratio of 0.85. The company has a market cap of $165.32 billion, a price-to-earnings ratio of 108.08, a PEG ratio of 4.84 and a beta of 1.07. The stock has a 50 day simple moving average of $38.49 and a 200-day simple moving average of $30.39. Wells Fargo & Company has a 1-year low of $20.76 and a 1-year high of $41.54.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Thursday, January 14th. The financial services provider reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The business had revenue of $17.93 billion during the quarter, compared to the consensus estimate of $18 billion. Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. The business’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 EPS. Analysts anticipate that Wells Fargo & Company will post 0.48 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 5th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, February 4th. Wells Fargo & Company’s payout ratio is 9.13%.

A number of equities research analysts have recently weighed in on the company. Seaport Global Securities upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Tuesday, January 19th. JPMorgan Chase & Co. upgraded Wells Fargo & Company from an “underweight” rating to a “neutral” rating and upped their target price for the company from $31.50 to $37.00 in a research report on Thursday, February 25th. DA Davidson upped their target price on Wells Fargo & Company from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, January 19th. Oppenheimer reiterated a “hold” rating on shares of Wells Fargo & Company in a research report on Tuesday, January 19th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Wells Fargo & Company from $35.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, April 1st. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Wells Fargo & Company currently has a consensus rating of “Buy” and a consensus target price of $35.00.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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