Sachetta LLC Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

Sachetta LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,867 shares of the financial services provider’s stock after purchasing an additional 213 shares during the period. Sachetta LLC’s holdings in Wells Fargo & Company were worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Core Wealth Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Transcendent Capital Group LLC bought a new position in Wells Fargo & Company in the 4th quarter worth $32,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $34,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $34,000. Finally, Valued Wealth Advisors LLC increased its position in shares of Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE WFC opened at $54.60 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $185.85 billion, a P/E ratio of 11.21, a PEG ratio of 1.27 and a beta of 1.16. The company has a 50-day moving average price of $57.19 and a 200-day moving average price of $57.97. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same period last year, the firm earned $1.25 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts anticipate that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.93%. The ex-dividend date was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is currently 32.85%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WFC. BMO Capital Markets upped their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and reduced their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI lowered their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, September 3rd. Finally, Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Twelve investment 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.29.

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.