Soltis Investment Advisors LLC Has $1.68 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Soltis Investment Advisors LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,859 shares of the financial services provider’s stock after buying an additional 875 shares during the period. Soltis Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $1,676,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at about $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $32,000. MidAtlantic Capital Management Inc. purchased a new stake in Wells Fargo & Company during the third quarter worth about $34,000. Finally, FSA Wealth Management LLC purchased a new stake in Wells Fargo & Company during the third quarter worth about $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WFC. Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

WFC stock opened at $79.05 on Tuesday. The firm has a 50 day moving average of $73.89 and a 200-day moving average of $65.51. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $47.59 and a 12 month high of $81.50. The firm has a market capitalization of $263.21 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period last year, the business earned $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wells Fargo & Company Company Profile

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.