Octavia Wealth Advisors LLC Takes $230,000 Position in Wells Fargo & Company (NYSE:WFC)

Octavia Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,675 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. First Financial Corp IN lifted its holdings in Wells Fargo & Company by 4.9% in the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after buying an additional 214 shares during the period. CX Institutional raised its holdings in Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 217 shares during the period. ERTS Wealth Advisors LLC raised its holdings in Wells Fargo & Company by 3.5% in the fourth quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 228 shares during the period. Prio Wealth Limited Partnership raised its holdings in Wells Fargo & Company by 1.7% in the fourth quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 233 shares during the period. Finally, SJS Investment Consulting Inc. raised its holdings in Wells Fargo & Company by 19.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 244 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Argus increased their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective on the stock. in a report on Thursday, January 18th. Compass Point restated a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Stock Up 1.4 %

Wells Fargo & Company stock opened at $57.18 on Thursday. The company has a market cap of $202.44 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $58.44. The company has a fifty day simple moving average of $55.42 and a 200 day simple moving average of $48.61. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 5.04 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wells Fargo & 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.