Ashton Thomas Private Wealth LLC Has $5.96 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Ashton Thomas Private Wealth LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.9% in the third quarter, HoldingsChannel reports. The fund owned 105,535 shares of the financial services provider’s stock after selling 5,463 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Wells Fargo & Company were worth $5,962,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company in the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the second quarter worth $26,000. Valued Wealth Advisors LLC boosted its position in shares of Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares in the last quarter. J.Safra Asset Management Corp grew its holdings in shares of Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares during the period. Finally, Fairscale Capital LLC bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $47,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Morgan Stanley reduced their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Piper Sandler increased their price objective on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and decreased their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday, October 8th. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $62.12.

Insider Transactions at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares in the company, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Wells Fargo & Company Trading Up 0.3 %

Shares of Wells Fargo & Company stock opened at $72.75 on Tuesday. Wells Fargo & Company has a 52-week low of $40.53 and a 52-week high of $74.27. The stock has a market cap of $242.22 billion, a PE ratio of 15.09, a PEG ratio of 1.57 and a beta of 1.14. The firm has a 50-day moving average of $59.87 and a 200-day moving average of $58.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.39 EPS. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.39 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. Wells Fargo & Company’s payout ratio is 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.