Highline Wealth Partners LLC Acquires 178 Shares of Wells Fargo & Company (NYSE:WFC)

Highline Wealth Partners LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,659 shares of the financial services provider’s stock after acquiring an additional 178 shares during the quarter. Highline Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $959,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new position in Wells Fargo & Company in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company in the 2nd quarter worth approximately $26,000. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Wells Fargo & Company in the 3rd quarter worth about $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 1.8 %

Shares of NYSE:WFC traded down $1.32 during trading hours on Friday, hitting $70.25. 7,296,880 shares of the company’s stock traded hands, compared to its average volume of 11,643,741. The business has a fifty day moving average price of $72.02 and a 200-day moving average price of $62.82. The firm has a market capitalization of $233.90 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period last year, the company posted $1.39 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.28%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Analyst Ratings Changes

WFC has been the topic of a number of analyst reports. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Evercore ISI increased their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays raised their price objective on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $69.92.

Insider Activity at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.