Wells Fargo & Company (NYSE:WFC) Shares Bought by Consilium Wealth Advisory LLC

Consilium Wealth Advisory LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 176,425 shares of the financial services provider's stock after buying an additional 5,407 shares during the quarter. Wells Fargo & Company makes up 6.3% of Consilium Wealth Advisory LLC's investment portfolio, making the stock its 4th largest position. Consilium Wealth Advisory LLC's holdings in Wells Fargo & Company were worth $12,666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vivid Wealth Management LLC boosted its stake in Wells Fargo & Company by 1.2% in the 1st quarter. Vivid Wealth Management LLC now owns 17,110 shares of the financial services provider's stock worth $1,228,000 after buying an additional 198 shares during the last quarter. Inscription Capital LLC purchased a new position in shares of Wells Fargo & Company during the 1st quarter worth about $387,000. QRG Capital Management Inc. boosted its position in shares of Wells Fargo & Company by 5.6% in the first quarter. QRG Capital Management Inc. now owns 815,384 shares of the financial services provider's stock worth $58,536,000 after acquiring an additional 43,092 shares during the last quarter. Highline Wealth Partners LLC grew its holdings in Wells Fargo & Company by 1.1% in the first quarter. Highline Wealth Partners LLC now owns 13,815 shares of the financial services provider's stock valued at $992,000 after purchasing an additional 156 shares during the period. Finally, Sagespring Wealth Partners LLC increased its position in Wells Fargo & Company by 34.2% during the first quarter. Sagespring Wealth Partners LLC now owns 26,891 shares of the financial services provider's stock worth $1,931,000 after purchasing an additional 6,852 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 2.1%

WFC traded up $1.49 on Wednesday, reaching $73.99. The company's stock had a trading volume of 4,380,670 shares, compared to its average volume of 17,060,834. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The business's 50 day moving average is $71.77 and its 200 day moving average is $72.85. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $240.78 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 1.23 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.15% and a net margin of 16.19%. The business's revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 EPS. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company declared that its Board of Directors has approved a stock repurchase program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Analysts Set New Price Targets

Several analysts have recently issued reports on WFC shares. Bank of America boosted their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. TD Cowen assumed coverage on Wells Fargo & Company in a report on Thursday, May 15th. They issued a "hold" rating and a $83.00 target price on the stock. Citigroup dropped their price target on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Evercore ISI lifted their price objective on Wells Fargo & Company from $72.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, Royal Bank Of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research report on Thursday, March 13th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.68.

Wells Fargo & Company Company Profile

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.