Wells Fargo & Company $WFC Shares Sold by Drucker Wealth 3.0 LLC

Key Points

• Drucker Wealth 3.0 LLC reduced its holdings in Wells Fargo & Company by 27.5%, owning 59,411 shares worth approximately $4.86 million after selling 22,591 shares in the second quarter.
• Evercore ISI raised its price target for Wells Fargo shares from $94.00 to $98.00 and rated the stock as "outperform," while other analysts maintain a "hold" rating.
• Wells Fargo has increased its quarterly dividend from $0.40 to $0.45, resulting in an annualized dividend of $1.80 and a yield of 2.3%.

Drucker Wealth 3.0 LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 27.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,411 shares of the financial services provider's stock after selling 22,591 shares during the period. Wells Fargo & Company accounts for approximately 0.9% of Drucker Wealth 3.0 LLC's holdings, making the stock its 25th biggest position. Drucker Wealth 3.0 LLC's holdings in Wells Fargo & Company were worth $4,859,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Wealth Management Partners LLC grew its position in shares of Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider's stock valued at $313,000 after buying an additional 128 shares during the last quarter. Verum Partners LLC grew its position in shares of Wells Fargo & Company by 1.8% during the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider's stock valued at $582,000 after buying an additional 128 shares during the last quarter. Motive Wealth Advisors grew its position in shares of Wells Fargo & Company by 3.7% during the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider's stock valued at $293,000 after buying an additional 129 shares during the last quarter. Vivid Wealth Management LLC grew its position in shares of Wells Fargo & Company by 0.8% during the 2nd quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider's stock valued at $1,381,000 after buying an additional 133 shares during the last quarter. Finally, Lynch & Associates IN grew its position in shares of Wells Fargo & Company by 2.0% during the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider's stock valued at $539,000 after buying an additional 135 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an "outperform" rating in a research report on Tuesday, September 30th. Cowen reaffirmed a "hold" rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Raymond James Financial cut shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 7th. Wall Street Zen upgraded shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Saturday, October 4th. Finally, Citigroup upped their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 23rd. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of "Moderate Buy" and a consensus price target of $85.41.

Wells Fargo & Company Price Performance

NYSE WFC opened at $77.74 on Friday. The company has a 50-day moving average price of $80.63 and a two-hundred day moving average price of $76.51. The stock has a market cap of $249.04 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.29 and a beta of 1.25. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $86.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 EPS. 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. Stockholders of record on Friday, August 8th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio (DPR) is currently 30.82%.

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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