Avity Investment Management Inc. Purchases Shares of 3,525 Wells Fargo & Company (NYSE:WFC)

Avity Investment Management Inc. purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,525 shares of the financial services provider’s stock, valued at approximately $248,000.

Other large investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Wells Fargo & Company by 5.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,670 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 175 shares during the period. Park Avenue Securities LLC raised its stake in shares of Wells Fargo & Company by 13.6% in the 4th quarter. Park Avenue Securities LLC now owns 120,843 shares of the financial services provider’s stock valued at $8,488,000 after purchasing an additional 14,477 shares during the period. Kathmere Capital Management LLC lifted its holdings in shares of Wells Fargo & Company by 46.8% in the fourth quarter. Kathmere Capital Management LLC now owns 15,069 shares of the financial services provider’s stock valued at $1,058,000 after purchasing an additional 4,802 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Wells Fargo & Company by 7.7% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 49,301 shares of the financial services provider’s stock worth $3,463,000 after buying an additional 3,520 shares during the period. Finally, R.H. Investment Group LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $5,056,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on WFC. Evercore ISI boosted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 3rd. Piper Sandler raised their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $69.92.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $71.07 on Wednesday. The company has a market cap of $236.63 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.47 and a beta of 1.18. The firm’s fifty day moving average price is $72.41 and its two-hundred day moving average price is $63.15. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.25%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

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.