Accelerate Investment Advisors LLC Has $340,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Accelerate Investment Advisors LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 16.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,847 shares of the financial services provider’s stock after buying an additional 675 shares during the quarter. Accelerate Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Cooper Financial Group raised its position in Wells Fargo & Company by 22.1% in the 4th quarter. Cooper Financial Group now owns 5,615 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 1,017 shares during the last quarter. Wedmont Private Capital lifted its position in Wells Fargo & Company by 1.6% during the 4th quarter. Wedmont Private Capital now owns 163,093 shares of the financial services provider’s stock valued at $11,410,000 after purchasing an additional 2,608 shares during the period. Brookstone Capital Management boosted its stake in shares of Wells Fargo & Company by 10.8% in the 4th quarter. Brookstone Capital Management now owns 17,676 shares of the financial services provider’s stock valued at $1,242,000 after purchasing an additional 1,726 shares during the last quarter. Fiduciary Alliance LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $1,522,000. Finally, Czech National Bank raised its stake in shares of Wells Fargo & Company by 4.1% during the fourth quarter. Czech National Bank now owns 721,698 shares of the financial services provider’s stock worth $50,692,000 after buying an additional 28,314 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC traded up $0.23 during mid-day trading on Monday, reaching $70.19. The company’s stock had a trading volume of 5,582,188 shares, compared to its average volume of 11,828,047. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The business has a 50-day simple moving average of $72.13 and a two-hundred day simple moving average of $62.97. The stock has a market cap of $233.70 billion, a P/E ratio of 14.59, a PEG ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (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 company had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the company posted $1.39 EPS. Wells Fargo & Company’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Insider Transactions at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

WFC has been the subject of several recent research reports. UBS Group upped their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Piper Sandler boosted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Barclays increased their target price on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.92.

About Wells Fargo & Company

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.