Apollon Wealth Management LLC Acquires 21,113 Shares of Wells Fargo & Company (NYSE:WFC)

Apollon Wealth Management LLC lifted its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 43.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,902 shares of the financial services provider's stock after purchasing an additional 21,113 shares during the period. Apollon Wealth Management LLC's holdings in Wells Fargo & Company were worth $3,441,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WFC. Brown Advisory Inc. lifted its holdings in Wells Fargo & Company by 6.7% during the third quarter. Brown Advisory Inc. now owns 247,652 shares of the financial services provider's stock worth $10,119,000 after acquiring an additional 15,658 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Wells Fargo & Company by 13.0% during the 3rd quarter. Mackenzie Financial Corp now owns 1,257,632 shares of the financial services provider's stock valued at $48,633,000 after purchasing an additional 144,713 shares in the last quarter. Baystate Wealth Management LLC grew its position in shares of Wells Fargo & Company by 53.0% in the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 278 shares during the period. Cambridge Trust Co. raised its holdings in Wells Fargo & Company by 3.0% during the 3rd quarter. Cambridge Trust Co. now owns 15,273 shares of the financial services provider's stock worth $624,000 after buying an additional 442 shares during the period. Finally, NBT Bank N A NY lifted its stake in Wells Fargo & Company by 10.8% in the third quarter. NBT Bank N A NY now owns 41,902 shares of the financial services provider's stock valued at $1,712,000 after buying an additional 4,092 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded up $0.05 on Tuesday, hitting $60.24. The stock had a trading volume of 16,268,222 shares, compared to its average volume of 18,899,662. The stock has a market cap of $210.02 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a twelve month low of $37.18 and a twelve month high of $61.76. The business's 50 day moving average is $57.75 and its two-hundred day moving average is $50.48.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to analysts' expectations of $20.19 billion. During the same quarter last year, the business earned $1.23 EPS. The company's quarterly revenue was up .6% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 5.08 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company's dividend payout ratio is currently 29.23%.

Analysts Set New Price Targets

WFC has been the subject of several research reports. Oppenheimer reissued a "market perform" rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the company a "buy" rating in a report on Monday, April 1st. Robert W. Baird reiterated a "neutral" rating and set a $55.00 price objective on shares of Wells Fargo & Company in a report on Monday, January 8th. Jefferies Financial Group upped their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a "hold" rating in a research report on Monday, April 8th. Finally, Compass Point reiterated a "neutral" rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $58.99.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.