Ausdal Financial Partners Inc. Increases Holdings in Wells Fargo & Company (NYSE:WFC)

Ausdal Financial Partners Inc. lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 41.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,494 shares of the financial services provider’s stock after purchasing an additional 2,785 shares during the period. Ausdal Financial Partners Inc.’s holdings in Wells Fargo & Company were worth $667,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the 4th 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 in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Finally, Rakuten Securities Inc. grew its stake in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 1.6 %

Shares of WFC opened at $72.33 on Friday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a 50 day simple moving average of $75.97 and a two-hundred day simple moving average of $69.80. The firm has a market cap of $236.17 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, analysts forecast 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 declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Wall Street Analysts Forecast Growth

Several research firms have commented on WFC. UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays raised their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Piper Sandler boosted their target price 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. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley increased their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.18.

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.