Charles Schwab Investment Management Inc. Has $1.14 Billion Position in Wells Fargo & Company (NYSE:WFC)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,237,905 shares of the financial services provider’s stock after buying an additional 526,178 shares during the period. Charles Schwab Investment Management Inc. owned about 0.64% of Wells Fargo & Company worth $1,143,770,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fortis Group Advisors LLC acquired a new stake in Wells Fargo & Company during the third quarter worth $25,000. Arlington Trust Co LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. boosted its stake in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Wells Fargo & Company during the fourth quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.9 %

NYSE:WFC traded up $0.53 on Wednesday, hitting $60.79. 7,810,374 shares of the stock were exchanged, compared to its average volume of 18,771,238. The stock has a market capitalization of $211.93 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $37.18 and a 52 week high of $61.76. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company’s 50-day moving average price is $57.86 and its 200 day moving average price is $50.62.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.30%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Piper Sandler reduced their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $51.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Compass Point restated a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $58.99.

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.