Net Worth Advisory Group Takes $865,000 Position in Wells Fargo & Company (NYSE:WFC)

Net Worth Advisory Group bought a new position in Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,316 shares of the financial services provider’s stock, valued at approximately $865,000.

Other institutional investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise boosted its position in shares of Wells Fargo & Company by 7.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 40,406 shares of the financial services provider’s stock valued at $2,342,000 after acquiring an additional 2,955 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Wells Fargo & Company by 14.2% during the first quarter. Park Avenue Securities LLC now owns 71,737 shares of the financial services provider’s stock worth $4,158,000 after purchasing an additional 8,899 shares during the period. SignalPoint Asset Management LLC acquired a new stake in Wells Fargo & Company during the first quarter valued at approximately $234,000. &PARTNERS grew its stake in shares of Wells Fargo & Company by 97.7% in the 1st quarter. &PARTNERS now owns 14,071 shares of the financial services provider’s stock valued at $800,000 after purchasing an additional 6,955 shares during the period. Finally, Douglas Lane & Associates LLC raised its holdings in shares of Wells Fargo & Company by 8.0% in the 1st quarter. Douglas Lane & Associates LLC now owns 11,406 shares of the financial services provider’s stock worth $661,000 after buying an additional 842 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Buying and Selling

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction that occurred on 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 transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at approximately $10,421,957. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Beurden Saul Van sold 35,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

Wells Fargo & Company Trading Down 0.0 %

NYSE WFC opened at $64.37 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 12 month low of $38.58 and a 12 month high of $64.78. The company has a market capitalization of $224.41 billion, a PE ratio of 13.22, a P/E/G ratio of 1.46 and a beta of 1.16. The stock has a 50-day simple moving average of $56.50 and a 200 day simple moving average of $57.99.

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

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a $0.40 dividend. The ex-dividend date was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.49%. Wells Fargo & Company’s payout ratio is currently 32.85%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WFC shares. The Goldman Sachs Group decreased their price target on 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. Piper Sandler upped their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their target price for the stock from $60.83 to $65.00 in a research report on Tuesday. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Thirteen research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $61.82.

About Wells Fargo & Company

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.