Schulhoff & Co. Inc. Sells 498 Shares of Wells Fargo & Company $WFC

Schulhoff & Co. Inc. trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 7.3% in the second quarter, Holdings Channel reports. The firm owned 6,306 shares of the financial services provider’s stock after selling 498 shares during the quarter. Schulhoff & Co. Inc.’s holdings in Wells Fargo & Company were worth $505,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blume Capital Management Inc. boosted its holdings in shares of Wells Fargo & Company by 1.7% in the 2nd quarter. Blume Capital Management Inc. now owns 127,711 shares of the financial services provider’s stock valued at $10,232,000 after buying an additional 2,087 shares during the last quarter. Gables Capital Management Inc. boosted its holdings in shares of Wells Fargo & Company by 6.8% in the 2nd quarter. Gables Capital Management Inc. now owns 2,350 shares of the financial services provider’s stock valued at $188,000 after buying an additional 150 shares during the last quarter. IMG Wealth Management Inc. acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $75,000. Jackson Thornton Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $223,000. Finally, DecisionMap Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $300,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 1.5%

WFC opened at $84.77 on Wednesday. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $87.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $271.56 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.19 and a beta of 1.25. The stock has a fifty day moving average of $81.49 and a 200-day moving average of $77.24.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is 29.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group cut their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Evercore ISI increased their price objective on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. TD Cowen raised their price target on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Finally, UBS Group cut their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.