Sweeney & Michel LLC Has $1.37 Million Position in Wells Fargo & Company (NYSE:WFC)

Sweeney & Michel LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 8.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 24,173 shares of the financial services provider’s stock after buying an additional 1,956 shares during the period. Sweeney & Michel LLC’s holdings in Wells Fargo & Company were worth $1,366,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in WFC. Ellenbecker Investment Group raised its position in Wells Fargo & Company by 3.9% in the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 164 shares in the last quarter. John W. Brooker & Co. CPAs raised its position in Wells Fargo & Company by 2.5% in the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 171 shares in the last quarter. McAdam LLC raised its position in Wells Fargo & Company by 3.3% in the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 178 shares in the last quarter. Eclectic Associates Inc. ADV raised its position in Wells Fargo & Company by 1.2% in the third quarter. Eclectic Associates Inc. ADV now owns 15,452 shares of the financial services provider’s stock worth $873,000 after purchasing an additional 178 shares in the last quarter. Finally, Prentice Wealth Management LLC grew its stake in Wells Fargo & Company by 2.0% during the second quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock worth $560,000 after buying an additional 184 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the topic of several research analyst reports. Morgan Stanley decreased their price objective 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. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note 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 objective on the stock in a research note on Tuesday, September 3rd. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group decreased their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $61.82.

Wells Fargo & Company Trading Up 0.8 %

WFC stock traded up $0.49 during midday trading on Tuesday, reaching $64.51. The company’s stock had a trading volume of 1,910,482 shares, compared to its average volume of 17,978,063. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $64.78. The stock has a market cap of $224.90 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The business’s 50-day simple moving average is $56.74 and its 200-day simple moving average is $58.05.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the firm earned $1.39 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.12 EPS for the current year.

Insider Activity

In other news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company 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 transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated 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 owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction dated 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 sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.