Wells Fargo & Company (NYSE:WFC) Shares Acquired by HF Advisory Group LLC

HF Advisory Group LLC increased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 10.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,906 shares of the financial services provider's stock after acquiring an additional 3,960 shares during the period. Wells Fargo & Company comprises 1.3% of HF Advisory Group LLC's investment portfolio, making the stock its 16th biggest holding. HF Advisory Group LLC's holdings in Wells Fargo & Company were worth $3,008,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Spinnaker Trust boosted its position in shares of Wells Fargo & Company by 1.8% in the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock valued at $520,000 after acquiring an additional 130 shares during the period. Shakespeare Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 0.9% in the fourth quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider's stock worth $972,000 after purchasing an additional 130 shares during the last quarter. MONECO Advisors LLC increased its holdings in Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock valued at $493,000 after purchasing an additional 134 shares during the period. Safeguard Investment Advisory Group LLC raised its holdings in Wells Fargo & Company by 2.4% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock worth $410,000 after purchasing an additional 137 shares in the last quarter. Finally, Crown Wealth Group LLC lifted its stake in shares of Wells Fargo & Company by 2.2% in the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock valued at $467,000 after purchasing an additional 140 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday. Raymond James lowered their price target on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. cut their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. Finally, Barclays decreased their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.48.

Wells Fargo & Company Price Performance

NYSE WFC traded up $1.48 during trading hours on Friday, reaching $76.38. The company's stock had a trading volume of 10,983,712 shares, compared to its average volume of 17,494,936. The company's 50-day moving average is $70.32 and its two-hundred day moving average is $72.95. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The firm has a market capitalization of $248.55 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.09%. Wells Fargo & Company's dividend payout ratio (DPR) is 28.73%.

Wells Fargo & Company announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 17.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Wells Fargo & 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.