Axxcess Wealth Management LLC Has $3.88 Million Position in Wells Fargo & Company (NYSE:WFC)

Axxcess Wealth Management LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 10.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,305 shares of the financial services provider’s stock after selling 7,262 shares during the period. Axxcess Wealth Management LLC’s holdings in Wells Fargo & Company were worth $3,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in WFC. Core Wealth Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth $25,000. Valued Wealth Advisors LLC increased 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 last quarter. Transcendent Capital Group LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth $32,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth $34,000. Finally, J.Safra Asset Management Corp boosted its stake 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 valued at $43,000 after buying an additional 648 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 several research analyst reports. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. BMO Capital Markets boosted their target price on shares of 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. Morgan Stanley increased their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Evercore ISI reduced their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.29.

Wells Fargo & Company Stock Up 1.4 %

Shares of Wells Fargo & Company stock opened at $54.54 on Wednesday. The stock’s 50-day moving average is $56.39 and its 200 day moving average is $57.92. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The firm has a market cap of $190.14 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.27 and a beta of 1.16. 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 quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 EPS. Equities research analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.93%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

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.