Wells Fargo & Company (NYSE:WFC) Shares Sold by Appleton Partners Inc. MA

Appleton Partners Inc. MA lessened its position in Wells Fargo & Company (NYSE:WFC) by 37.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,020 shares of the financial services provider’s stock after selling 5,896 shares during the period. Appleton Partners Inc. MA’s holdings in Wells Fargo & Company were worth $581,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WFC. Bison Wealth LLC increased its stake in Wells Fargo & Company by 2.5% during the 3rd quarter. Bison Wealth LLC now owns 48,030 shares of the financial services provider’s stock valued at $1,963,000 after buying an additional 1,161 shares during the period. Rathbones Group PLC acquired a new position in Wells Fargo & Company during the 3rd quarter valued at about $4,741,000. V Square Quantitative Management LLC increased its stake in Wells Fargo & Company by 1,521.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 4,622 shares of the financial services provider’s stock valued at $189,000 after buying an additional 4,337 shares during the period. Provence Wealth Management Group increased its stake in Wells Fargo & Company by 4.6% during the 3rd quarter. Provence Wealth Management Group now owns 9,071 shares of the financial services provider’s stock valued at $371,000 after buying an additional 396 shares during the period. Finally, Institutional & Family Asset Management LLC increased its stake in Wells Fargo & Company by 0.3% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 136,249 shares of the financial services provider’s stock valued at $5,567,000 after buying an additional 445 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WFC shares. Argus lifted their price objective 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. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. lifted their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group lifted their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $58.99.

Wells Fargo & Company Stock Up 0.9 %

Shares of WFC stock traded up $0.54 during trading on Tuesday, hitting $58.78. 3,586,547 shares of the company were exchanged, compared to its average volume of 17,920,457. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $204.93 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 1.49 and a beta of 1.17. The business’s 50-day simple moving average is $59.39 and its 200 day simple moving average is $54.35. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during 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%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $1.23 earnings per share. As a group, analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.38%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s payout ratio is presently 29.23%.

Wells Fargo & Company 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.