Brookstone Capital Management Has $3.53 Million Stock Holdings in Wells Fargo & Company $WFC

Brookstone Capital Management increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,038 shares of the financial services provider's stock after acquiring an additional 3,408 shares during the period. Brookstone Capital Management's holdings in Wells Fargo & Company were worth $3,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Jacobsen Capital Management boosted its position in shares of Wells Fargo & Company by 12.5% during the 2nd quarter. Jacobsen Capital Management now owns 6,192 shares of the financial services provider's stock worth $496,000 after acquiring an additional 688 shares in the last quarter. Blume Capital Management Inc. boosted its position in shares of Wells Fargo & Company by 1.7% during the 2nd quarter. Blume Capital Management Inc. now owns 127,711 shares of the financial services provider's stock worth $10,232,000 after acquiring an additional 2,087 shares in the last quarter. Gables Capital Management Inc. boosted its position in shares of Wells Fargo & Company by 6.8% during the 2nd quarter. Gables Capital Management Inc. now owns 2,350 shares of the financial services provider's stock worth $188,000 after acquiring an additional 150 shares in the last quarter. IMG Wealth Management Inc. acquired a new stake in Wells Fargo & Company in the second quarter valued at approximately $75,000. Finally, Jackson Thornton Wealth Management LLC acquired a new stake in Wells Fargo & Company in the second quarter valued at approximately $223,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $84.35 on Friday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The firm has a fifty day simple moving average of $81.71 and a 200 day simple moving average of $77.44. The company has a market capitalization of $270.22 billion, a PE ratio of 13.87, a P/E/G ratio of 1.15 and a beta of 1.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter last year, the firm earned $1.42 earnings per share. Wells Fargo & Company's quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company's payout ratio is presently 29.61%.

Analysts Set New Price Targets

A number of analysts have weighed in on WFC shares. The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Evercore ISI raised their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an "outperform" rating in a research note on Tuesday, September 30th. Piper Sandler reaffirmed an "overweight" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 15th. Finally, UBS Group dropped their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a "buy" rating for the company in a research note on Tuesday, October 7th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of "Moderate Buy" and an average price target of $89.57.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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