Baxter Bros Inc. Makes New $8.45 Million Investment in Wells Fargo & Company $WFC

Baxter Bros Inc. purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 102,252 shares of the financial services provider's stock, valued at approximately $8,450,000. Wells Fargo & Company makes up 1.0% of Baxter Bros Inc.'s holdings, making the stock its 29th largest position.

Other large investors have also added to or reduced their stakes in the company. Godfrey Financial Associates Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Miller Capital Partners Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $26,000. Joseph Group Capital Management bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $28,000. Finally, Phillip James Consulting Co. bought a new stake in shares of Wells Fargo & Company during the first quarter worth about $28,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analysts Set New Price Targets

WFC has been the topic of a number of research reports. Bank of America boosted their target price on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. UBS Group cut their target price on Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Keefe, Bruyette & Woods lowered their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating for the company in a research report on Wednesday, July 15th. Finally, Robert W. Baird upped their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and an average target price of $98.61.

Wells Fargo & Company Stock Up 0.2%

WFC opened at $83.83 on Friday. The company's 50-day moving average price is $86.08 and its two-hundred day moving average price is $82.97. The stock has a market cap of $253.50 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.91 and a beta of 0.92. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The company had revenue of $22.62 billion during the quarter, compared to analysts' expectations of $21.86 billion. During the same quarter in the prior year, the company earned $1.60 EPS. The firm's revenue was up 8.6% on a year-over-year basis. As a group, equities analysts expect that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 7th. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.45. Wells Fargo & Company's dividend payout ratio (DPR) is 29.07%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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