Physician Wealth Advisors Inc. Has $404,000 Holdings in Wells Fargo & Company (NYSE:WFC)

Physician Wealth Advisors Inc. grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 6.1% in the 1st quarter, HoldingsChannel reports. The fund owned 7,156 shares of the financial services provider’s stock after purchasing an additional 413 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in Wells Fargo & Company were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Core Wealth Advisors Inc. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $29,000. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company during the third quarter valued at approximately $25,000. Finally, Transcendent Capital Group LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 3.4 %

Shares of Wells Fargo & Company stock traded up $1.97 during trading on Friday, hitting $59.39. The company’s stock had a trading volume of 31,074,465 shares, compared to its average volume of 18,610,088. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The stock has a market cap of $207.05 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17. The stock has a 50-day moving average price of $59.55 and a two-hundred day moving average price of $55.10.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.23%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. HSBC boosted their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Argus boosted their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Citigroup reaffirmed a “neutral” rating and set a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.15.

Wells Fargo & 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.