Abich Financial Wealth Management LLC Invests $260,000 in Wells Fargo & Company (NYSE:WFC)

Abich Financial Wealth Management LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 4,599 shares of the financial services provider’s stock, valued at approximately $260,000. Wells Fargo & Company comprises approximately 0.6% of Abich Financial Wealth Management LLC’s portfolio, making the stock its 13th largest holding.

A number of other large investors also recently made changes to their positions in the stock. Aviance Capital Partners LLC acquired a new stake in shares of Wells Fargo & Company in the 1st quarter valued at approximately $533,000. Miracle Mile Advisors LLC raised its holdings in Wells Fargo & Company by 1.2% in the first quarter. Miracle Mile Advisors LLC now owns 20,454 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 235 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Wells Fargo & Company by 28.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock worth $27,441,000 after purchasing an additional 106,260 shares in the last quarter. Kiley Juergens Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 2.5% in the 1st quarter. Kiley Juergens Wealth Management LLC now owns 14,070 shares of the financial services provider’s stock valued at $815,000 after buying an additional 340 shares during the period. Finally, Tradewinds Capital Management LLC increased its position in shares of Wells Fargo & Company by 412.1% in the 1st quarter. Tradewinds Capital Management LLC now owns 4,225 shares of the financial services provider’s stock valued at $245,000 after buying an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research analyst reports. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Tuesday, October 8th. Compass Point raised their target price on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and reduced their price target for the company from $62.00 to $59.00 in a report on Friday, August 16th. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.82.

Insiders Place Their Bets

In related news, EVP Beurden Saul Van sold 35,000 shares of the company’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 transaction, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Beurden Saul Van sold 35,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Price Performance

WFC traded up $0.24 on Tuesday, hitting $65.85. 1,563,057 shares of the stock were exchanged, compared to its average volume of 17,995,840. The firm has a market capitalization of $224.14 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.46 and a beta of 1.16. 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 has a 12 month low of $38.69 and a 12 month high of $65.97. The business has a 50-day moving average of $57.78 and a two-hundred day moving average of $58.33.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. The business 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 firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.39 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 5.36 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

About Wells Fargo & Company

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.