One Wealth Advisors LLC Grows Position in Wells Fargo & Company (NYSE:WFC)

One Wealth Advisors LLC raised its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 19.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,102 shares of the financial services provider's stock after buying an additional 5,374 shares during the period. One Wealth Advisors LLC's holdings in Wells Fargo & Company were worth $2,376,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in Wells Fargo & Company in the fourth quarter valued at $3,365,658,000. Capital Research Global Investors boosted its holdings in shares of Wells Fargo & Company by 932.0% during the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock valued at $1,105,218,000 after buying an additional 14,210,193 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Wells Fargo & Company by 277.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock valued at $771,092,000 after buying an additional 7,894,919 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Wells Fargo & Company by 7,887.9% during the 1st quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock valued at $243,589,000 after buying an additional 3,350,605 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Wells Fargo & Company by 10.7% during the 4th quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock valued at $2,411,992,000 after buying an additional 3,307,855 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WFC shares. Morgan Stanley lifted their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Phillip Securities lowered Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. lowered their price target 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. Wall Street Zen raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Bank of America lifted their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.39.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded up $0.38 during trading hours on Friday, reaching $84.25. 14,071,803 shares of the stock traded hands, compared to its average volume of 19,653,194. The company has a 50 day moving average price of $77.86 and a 200 day moving average price of $74.59. The firm has a market capitalization of $274.15 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.30 and a beta of 1.16. Wells Fargo & Company has a one year low of $50.15 and a one year high of $84.83. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 EPS. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's dividend payout ratio is 27.40%.

Wells Fargo & Company announced that its board has initiated a stock repurchase plan 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 buy up to 17.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is 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.