Net Worth Advisory Group Takes Position in Wells Fargo & Company (NYSE:WFC)

Net Worth Advisory Group acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 15,316 shares of the financial services provider’s stock, valued at approximately $865,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company during the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company during the second quarter valued at about $26,000. Valued Wealth Advisors LLC lifted its holdings in Wells Fargo & Company by 53.7% in 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 during the period. J.Safra Asset Management Corp lifted its holdings in 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 purchasing an additional 648 shares during the period. Finally, Fairscale Capital LLC bought a new position in Wells Fargo & Company in the 2nd quarter valued at about $47,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $64.37 on Friday. The stock has a market capitalization of $224.41 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.46 and a beta of 1.16. The business has a 50-day moving average of $56.50 and a two-hundred day moving average of $57.99. Wells Fargo & Company has a fifty-two week low of $38.58 and a fifty-two week high of $64.78. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the company earned $1.39 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities research analysts predict that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.49%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WFC shares. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the company from $60.83 to $65.00 in a research report on Tuesday. Compass Point boosted 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. Morgan Stanley reduced their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. BMO Capital Markets raised their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Thirteen equities 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 stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $61.82.

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.