Wells Fargo & Company (NYSE:WFC) Shares Sold by ERTS Wealth Advisors LLC

ERTS Wealth Advisors LLC reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,504 shares of the financial services provider’s stock after selling 156 shares during the period. ERTS Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $367,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV increased its holdings in shares of Wells Fargo & Company by 1.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 21,756 shares of the financial services provider’s stock valued at $1,261,000 after purchasing an additional 266 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in Wells Fargo & Company by 7.9% in the first quarter. Banque Cantonale Vaudoise now owns 40,406 shares of the financial services provider’s stock valued at $2,342,000 after acquiring an additional 2,955 shares during the last quarter. SOA Wealth Advisors LLC. grew its holdings in shares of Wells Fargo & Company by 79.6% during the 1st quarter. SOA Wealth Advisors LLC. now owns 2,978 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 1,320 shares during the period. Park Avenue Securities LLC grew its stake in Wells Fargo & Company by 14.2% during the first quarter. Park Avenue Securities LLC now owns 71,737 shares of the financial services provider’s stock worth $4,158,000 after buying an additional 8,899 shares during the period. Finally, Aprio Wealth Management LLC increased its holdings in Wells Fargo & Company by 13.9% in the 1st quarter. Aprio Wealth Management LLC now owns 5,710 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 696 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

WFC has been the subject of several recent research reports. Morgan Stanley lowered their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday, September 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday. Finally, Evercore ISI raised their target price on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.82.

Wells Fargo & Company Price Performance

WFC stock traded down $0.03 during trading on Friday, hitting $64.35. The company had a trading volume of 3,508,127 shares, compared to its average volume of 17,988,283. The business has a 50 day moving average of $56.27 and a 200 day moving average of $57.94. The firm has a market capitalization of $224.34 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.46 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a fifty-two week low of $38.58 and a fifty-two week high of $64.71.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 earnings per share. As a group, research analysts predict that Wells Fargo & Company will post 5.12 earnings per share for the current 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 dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.49%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.