Tulsa Wealth Advisors INC Buys Shares of 35,627 Wells Fargo & Company $WFC

Tulsa Wealth Advisors INC bought a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 35,627 shares of the financial services provider’s stock, valued at approximately $3,320,000. Wells Fargo & Company makes up about 1.1% of Tulsa Wealth Advisors INC’s portfolio, making the stock its 26th largest holding.

Several other hedge funds also recently modified their holdings of the business. Godfrey Financial Associates Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Miller Capital Partners Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth about $27,000. Finally, Joseph Group Capital Management bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.1%

Shares of NYSE:WFC opened at $82.31 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s 50-day moving average is $79.70 and its 200-day moving average is $84.59. The company has a market cap of $251.89 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.96 and a beta of 0.93. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business had revenue of $11.62 billion during the quarter, compared to analysts’ expectations of $21.85 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 6.86 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s payout ratio is currently 27.78%.

Analyst Ratings Changes

WFC has been the topic of a number of recent analyst reports. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. HSBC raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Wednesday, April 1st. Evercore reiterated an “outperform” rating on shares of Wells Fargo & Company in a report on Friday, March 6th. KGI Securities lowered shares of Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.24.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.