Addison Advisors LLC Reduces Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Addison Advisors LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 10.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,575 shares of the financial services provider’s stock after selling 192 shares during the period. Addison Advisors LLC’s holdings in Wells Fargo & Company were worth $89,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $26,000. Valued Wealth Advisors LLC lifted its stake in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares during the period. J.Safra Asset Management Corp raised its position in shares of Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares during the period. Finally, Fairscale Capital LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $47,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Wells Fargo & Company

In other news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company 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 completion of the transaction, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the 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 directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and lowered their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. The Goldman Sachs Group reduced their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Morgan Stanley decreased their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $62.12.

Wells Fargo & Company Stock Up 3.7 %

NYSE:WFC opened at $72.60 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $241.72 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. Wells Fargo & Company has a 52 week low of $40.53 and a 52 week high of $74.27. The stock’s fifty day moving average is $59.59 and its two-hundred day moving average is $58.83.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly 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. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 5.39 EPS for the current year.

Wells Fargo & Company Announces Dividend

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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Wells Fargo & Company 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.