Abich Financial Wealth Management LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC – Free Report) 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 – Get Free Report) 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.
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