Published
8 months agoon
By
adminWe’re selling 85 shares of Wells Fargo at roughly $86. Following Tuesday’s trade, Jim Cramer’s Charitable Trust will own 1,700 shares of WFC, decreasing its weighting to about 3.8 from 4.05%. We’re booking profits on our Wells Fargo position following its strong post-earnings move to new all-time highs. Shares of Wells Fargo, which analysts at Piper Sandler say is shifting from defense to offense, have rallied about 9% since the bank reported a better-than-expected third quarter on Oct. 14. Alongside the results was an aggressive share repurchase program, a reaffirmation of its full-year net interest income outlook, and a boost to management’s medium-term financial targets. Now that the company is no longer shackled by the Fed asset cap, it is targeting a 17% to 18% return on tangible common equity, up from the prior goal of 15%. WFC YTD mountain Wells Fargo YTD This sale does not reflect any change to our long-term positive thesis in Wells Fargo. Instead, this is part of our normal course of disciplined profit-taking following strong moves. From this sale, we will realize a big gain of about 170% on stock purchased in January 2021. (Jim Cramer’s Charitable Trust is long WFC. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
This industrial giant is emerging as a big AI play, says Wells Fargo
Novo Nordisk’s strategy tested as investors push back on board revamp
Alibaba plans AI subscriptions, stablecoin-like payments with JPMorgan
UK borrowing costs spike on report government to scrap plans to raise income tax
Trump’s threatened the BBC with a $1B lawsuit: Here’s what’s going on
UBS’s picks for global returns next year
Wells Fargo sees Caterpillar continuing to roar higher, emerging as an artificial intelligence play. The bank initiated shares of...
Flags with the logos of Danish drugmaker Novo Nordisk, maker of the blockbuster diabetes and weight-loss treatments Ozempic...
Key Points Alibaba plans to use “tokenization” of payments for cross-border transactions in its business-to-business arm. Kuo Zhang, president...
Rachel Reeves, U.K. chancellor of the exchequer, delivers a speech in London, UK, on Tuesday, Nov. 4, 2025. Bloomberg...
US President Donald Trump speaks to reporters as he arrives at Palm Beach International Airport on Oct. 31,...
Investors looking for global diversification opportunities should look to a specific subset of stocks in Europe, according to UBS...
Eakarat Buanoi | Istock | Getty Images LISBON, Portugal — Top tech executives told CNBC they’re concerned about...
Tan Su Shan, deputy chief executive officer and managing director of institutional banking at DBS Group Holdings Ltd., speaks during...
CHENGDU, CHINA – OCTOBER 18: People walk past the Louis Vuitton store at Taikoo Li, a high-end shopping area that...
The United States said Thursday it will remove tariffs on some foods and other imports from Argentina, Ecuador, Guatemala and...
