Adage Capital Partners GP L.L.C. raised its position in shares of Wells Fargo & Co. (NYSE:WFC) by 17.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,976,638 shares of the financial services provider’s stock after buying an additional 1,173,400 shares during the period. Wells Fargo & Co. makes up about 1.0% of Adage Capital Partners GP L.L.C.’s portfolio, making the stock its 9th largest position. Adage Capital Partners GP L.L.C. owned about 0.16% of Wells Fargo & Co. worth $377,534,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WFC. Financial Advisory Group increased its stake in shares of Wells Fargo & Co. by 0.5% in the first quarter. Financial Advisory Group now owns 4,264 shares of the financial services provider’s stock worth $206,000 after buying an additional 22 shares in the last quarter. Annex Advisory Services LLC raised its stake in shares of Wells Fargo & Co. by 0.4% in the second quarter. Annex Advisory Services LLC now owns 6,422 shares of the financial services provider’s stock valued at $304,000 after buying an additional 25 shares in the last quarter. Bollard Group LLC raised its stake in shares of Wells Fargo & Co. by 0.8% in the second quarter. Bollard Group LLC now owns 4,411 shares of the financial services provider’s stock valued at $209,000 after buying an additional 33 shares in the last quarter. Oakworth Capital Inc. raised its stake in shares of Wells Fargo & Co. by 0.3% in the second quarter. Oakworth Capital Inc. now owns 14,625 shares of the financial services provider’s stock valued at $741,000 after buying an additional 40 shares in the last quarter. Finally, Sharkey Howes & Javer raised its stake in shares of Wells Fargo & Co. by 0.7% in the second quarter. Sharkey Howes & Javer now owns 5,915 shares of the financial services provider’s stock valued at $280,000 after buying an additional 44 shares in the last quarter. Institutional investors own 74.25% of the company’s stock.

Institutional Ownership by Quarter for Wells Fargo & Co. (NYSE:WFC)

Wells Fargo & Co. (NYSE:WFC) traded up 0.19% during trading on Friday, reaching $51.73. The company’s stock had a trading volume of 46,594,895 shares. The company’s 50-day moving average is $45.63 and its 200-day moving average is $47.72. Wells Fargo & Co. has a 12 month low of $43.55 and a 12 month high of $56.26. The stock has a market cap of $259.80 billion, a PE ratio of 12.84 and a beta of 0.93.

Wells Fargo & Co. (NYSE:WFC) last issued its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. Wells Fargo & Co. had a return on equity of 12.72% and a net margin of 23.91%. The company earned $22.30 billion during the quarter. During the same quarter last year, the business earned $1.05 earnings per share. Wells Fargo & Co.’s revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Co. will post $4.03 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 4th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.94%. Wells Fargo & Co.’s dividend payout ratio (DPR) is 37.44%.

A number of research firms have commented on WFC. JPMorgan Chase & Co. lowered shares of Wells Fargo & Co. from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $53.50 to $48.00 in a research note on Wednesday, September 21st. Macquarie restated an “underperform” rating on shares of Wells Fargo & Co. in a research note on Tuesday, October 18th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Wells Fargo & Co. in a report on Friday, September 9th. Argus reissued a “buy” rating on shares of Wells Fargo & Co. in a research report on Thursday, October 13th. Finally, Bank of America Corp. set a $50.00 price objective on shares of Wells Fargo & Co. and gave the stock a “buy” rating in a research report on Monday, September 19th. Eight analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $49.52.

Wells Fargo & Co. Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

5 Day Chart for NYSE:WFC

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