Wells Fargo & Company (NYSE:WFC) Shares Sold by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,253 shares of the financial services provider’s stock after selling 343 shares during the period. Soltis Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $1,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Core Wealth Advisors Inc. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC purchased a new stake in Wells Fargo & Company during the 4th quarter worth $25,000. Tennessee Valley Asset Management Partners acquired a new stake in Wells Fargo & Company in the 4th quarter valued at $29,000. Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $32,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC traded down $3.62 during trading on Friday, hitting $53.26. 27,642,566 shares of the company traded hands, compared to its average volume of 16,512,784. The stock has a market capitalization of $185.68 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.40 and a beta of 1.17. The business’s fifty day moving average is $58.87 and its 200-day moving average is $56.81. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share. As a group, equities analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is 28.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. BMO Capital Markets upped their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Finally, StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Thirteen research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average target price of $59.91.

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.