Wells Fargo & Company (NYSE:WFC) Shares Acquired by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 45.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,708 shares of the financial services provider’s stock after buying an additional 3,344 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $605,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WFC. Net Worth Advisory Group acquired a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $865,000. Inspire Advisors LLC acquired a new stake in Wells Fargo & Company in the third quarter worth approximately $299,000. Aspiriant LLC boosted its stake in Wells Fargo & Company by 4.2% during the 3rd quarter. Aspiriant LLC now owns 24,430 shares of the financial services provider’s stock valued at $1,380,000 after purchasing an additional 977 shares in the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Wells Fargo & Company by 24.2% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 17,766 shares of the financial services provider’s stock valued at $1,004,000 after purchasing an additional 3,466 shares during the period. Finally, Stonegate Investment Group LLC raised its stake in shares of Wells Fargo & Company by 7.0% in the 3rd quarter. Stonegate Investment Group LLC now owns 45,433 shares of the financial services provider’s stock worth $2,567,000 after buying an additional 2,954 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.0 %

NYSE:WFC opened at $64.37 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market cap of $224.41 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The stock’s 50-day moving average is $56.50 and its two-hundred day moving average is $57.99. Wells Fargo & Company has a fifty-two week low of $38.58 and a fifty-two week high of $64.78.

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

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a $0.40 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.49%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is 32.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WFC. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Morgan Stanley reduced their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Finally, Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and decreased their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.82.

Insiders Place Their Bets

In other news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company 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 sale, the executive vice president now directly owns 126,687 shares in the company, valued at $7,853,327.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were 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 owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the transaction, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.