Wells Fargo & Company (WFC) is GVO Asset Management Ltd’s 10th Largest Position

GVO Asset Management Ltd lessened its stake in Wells Fargo & Company (NYSE:WFC) by 49.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 439,232 shares of the financial services provider’s stock after selling 421,674 shares during the quarter. Wells Fargo & accounts for approximately 4.9% of GVO Asset Management Ltd’s holdings, making the stock its 10th biggest position. GVO Asset Management Ltd’s holdings in Wells Fargo & were worth $24,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Schaper Benz & Wise Investment Counsel Inc. WI raised its position in shares of Wells Fargo & by 1.3% in the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 244,777 shares of the financial services provider’s stock worth $13,563,000 after purchasing an additional 3,080 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Wells Fargo & by 6.4% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 32,476 shares of the financial services provider’s stock worth $1,799,000 after purchasing an additional 1,967 shares during the last quarter. TRUE Private Wealth Advisors raised its position in shares of Wells Fargo & by 4.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 40,126 shares of the financial services provider’s stock worth $2,223,000 after purchasing an additional 1,607 shares during the last quarter. Winch Advisory Services LLC raised its position in shares of Wells Fargo & by 0.7% in the 2nd quarter. Winch Advisory Services LLC now owns 2,776 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 20 shares during the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of Wells Fargo & in the 2nd quarter worth about $6,396,000. 75.86% of the stock is owned by hedge funds and other institutional investors.

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Several equities analysts have recently issued reports on WFC shares. Vetr lowered Wells Fargo & from a “hold” rating to a “sell” rating and set a $54.49 price target for the company. in a research report on Thursday, November 2nd. UBS AG reiterated a “neutral” rating and issued a $56.00 price objective (down from $59.00) on shares of Wells Fargo & in a report on Friday, September 15th. Zacks Investment Research upgraded Wells Fargo & from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $50.00 price objective (down from $52.00) on shares of Wells Fargo & in a report on Wednesday, September 13th. Finally, Berenberg Bank downgraded Wells Fargo & from a “hold” rating to a “sell” rating and lifted their price objective for the stock from $35.00 to $45.00 in a report on Friday, July 21st. Six research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $57.20.

Wells Fargo & Company (WFC) opened at $54.04 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. Wells Fargo & Company has a twelve month low of $49.27 and a twelve month high of $59.99. The company has a market capitalization of $266,300.00, a P/E ratio of 13.00, a P/E/G ratio of 1.29 and a beta of 0.97.

Wells Fargo & (NYSE:WFC) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The business had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. analysts anticipate that Wells Fargo & Company will post 3.97 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be issued a $0.39 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 2.89%. Wells Fargo &’s dividend payout ratio is presently 40.31%.

About Wells Fargo &

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

Institutional Ownership by Quarter for Wells Fargo & (NYSE:WFC)

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