Advisor OS LLC Takes $227,000 Position in Wells Fargo & Company (NYSE:WFC)

Posted by Defense World Staff on Jul 10th, 2023

Advisor OS LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,061 shares of the financial services provider’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meyer Handelman Co. raised its holdings in Wells Fargo & Company by 0.4% in the 4th quarter. Meyer Handelman Co. now owns 254,542 shares of the financial services provider’s stock valued at $10,510,000 after acquiring an additional 1,108 shares in the last quarter. Calton & Associates Inc. increased its holdings in Wells Fargo & Company by 23.2% in the 4th quarter. Calton & Associates Inc. now owns 6,216 shares of the financial services provider’s stock valued at $257,000 after buying an additional 1,170 shares during the period. Alliance Wealth Advisors LLC increased its holdings in Wells Fargo & Company by 2.9% in the 1st quarter. Alliance Wealth Advisors LLC now owns 11,119 shares of the financial services provider’s stock valued at $416,000 after buying an additional 311 shares during the period. Thrive Wealth Management LLC bought a new stake in Wells Fargo & Company in the 1st quarter valued at $209,000. Finally, Lindbrook Capital LLC increased its holdings in Wells Fargo & Company by 3.5% in the 4th quarter. Lindbrook Capital LLC now owns 12,882 shares of the financial services provider’s stock valued at $532,000 after buying an additional 431 shares during the period. 72.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of several analyst reports. The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $46.00 to $49.00 in a report on Friday, April 14th. Barclays decreased their price objective on Wells Fargo & Company from $64.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, April 12th. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $44.60 price objective on the stock. in a report on Wednesday, June 7th. Piper Sandler lifted their price objective on Wells Fargo & Company from $41.00 to $43.00 in a report on Thursday, June 15th. Finally, Morgan Stanley lifted their price objective on Wells Fargo & Company from $44.00 to $47.00 in a report on Friday. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.04.

Wells Fargo & Company Stock Down 0.3 %

Shares of NYSE:WFC opened at $42.77 on Monday. Wells Fargo & Company has a one year low of $35.25 and a one year high of $48.84. The company has a 50 day moving average of $40.80 and a 200-day moving average of $41.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $160.48 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 0.90 and a beta of 1.12.

Wells Fargo & Company (NYSE:WFC – Free Report) last posted its quarterly earnings results on Friday, April 14th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.08. Wells Fargo & Company had a return on equity of 10.07% and a net margin of 15.93%. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $20.06 billion. During the same period last year, the company earned $0.88 EPS. The firm’s revenue was up 16.9% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 4.65 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 5th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.81%. Wells Fargo & Company’s dividend payout ratio is 34.38%.

Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.