Welch Group LLC Acquires 1,006 Shares of Wells Fargo & Company $WFC

Welch Group LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,467 shares of the financial services provider’s stock after acquiring an additional 1,006 shares during the period. Welch Group LLC’s holdings in Wells Fargo & Company were worth $1,800,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of WFC. Brighton Jones LLC boosted its position in Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Wells Fargo & Company by 296.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 686 shares of the financial services provider’s stock valued at $49,000 after buying an additional 513 shares during the last quarter. GAMMA Investing LLC boosted its position in Wells Fargo & Company by 11.3% in the 1st quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider’s stock valued at $3,393,000 after buying an additional 4,786 shares during the last quarter. CVA Family Office LLC boosted its position in Wells Fargo & Company by 10.1% in the 1st quarter. CVA Family Office LLC now owns 6,571 shares of the financial services provider’s stock valued at $472,000 after buying an additional 602 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in Wells Fargo & Company in the 1st quarter valued at $43,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research 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 research report on Tuesday, September 30th. Truist Financial increased their price objective on Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Finally, Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $85.41.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $77.74 on Monday. The company has a market capitalization of $249.04 billion, a PE ratio of 13.31, a PEG ratio of 1.25 and a beta of 1.25. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $86.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The stock’s fifty day simple moving average is $80.63 and its 200 day simple moving average is $76.56.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is 30.82%.

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.