Forte Capital LLC ADV Lowers Stake in Wells Fargo & Company (NYSE:WFC)

Forte Capital LLC ADV cut its position in Wells Fargo & Company (NYSE:WFC) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,575 shares of the financial services provider’s stock after selling 278 shares during the period. Forte Capital LLC ADV’s holdings in Wells Fargo & Company were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mattson Financial Services LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company in the second quarter valued at about $26,000. Valued Wealth Advisors LLC boosted its stake in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares during the period. J.Safra Asset Management Corp grew its position in shares of Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 648 shares in the last quarter. Finally, Fairscale Capital LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter worth about $47,000. 75.90% of the stock is currently owned by institutional investors.

Insider Transactions at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction dated 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 directly owns 163,610 shares in the company, valued at approximately $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction dated 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 directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of several recent analyst reports. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, September 3rd. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Monday, October 14th. BMO Capital Markets boosted their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Thirteen research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average target price of $62.12.

Wells Fargo & Company Price Performance

WFC stock opened at $69.79 on Friday. The stock has a market cap of $232.37 billion, a PE ratio of 14.51, a P/E/G ratio of 1.44 and a beta of 1.14. Wells Fargo & Company has a 12 month low of $40.27 and a 12 month high of $74.27. The company has a 50-day moving average price of $59.11 and a 200 day moving average price of $58.72. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced its 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 business had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.36 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.29%. Wells Fargo & Company’s payout ratio is 33.26%.

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.