Investors Asset Management of Georgia Inc. GA ADV decreased its position in shares of Wells Fargo & Co (NYSE:WFC) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,239 shares of the financial services provider’s stock after selling 350 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Wells Fargo & Co were worth $900,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Delphi Private Advisors LLC grew its position in Wells Fargo & Co by 262.8% in the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,461 shares in the last quarter. Alexandria Capital LLC grew its position in Wells Fargo & Co by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 6 shares in the last quarter. Brick & Kyle Associates grew its position in Wells Fargo & Co by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 162 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Wells Fargo & Co in the first quarter worth about $124,000. Finally, America First Investment Advisors LLC grew its position in Wells Fargo & Co by 8.3% in the second quarter. America First Investment Advisors LLC now owns 2,612 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

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Wells Fargo & Co (WFC) opened at 54.25 on Monday. Wells Fargo & Co has a 52-week low of $43.55 and a 52-week high of $59.99. The firm has a market capitalization of $269.29 billion, a P/E ratio of 13.36 and a beta of 0.96. The company’s 50-day moving average is $51.89 and its 200-day moving average is $53.88.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Wells Fargo & Co had a net margin of 26.38% and a return on equity of 12.20%. The company had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. During the same period last year, the firm posted $1.01 EPS. Wells Fargo & Co’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts predict that Wells Fargo & Co will post $4.15 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were given a dividend of $0.39 per share. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Wednesday, August 2nd. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 38.42%.

Wells Fargo & Co announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Several analysts have issued reports on WFC shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $62.00 price objective on shares of Wells Fargo & Co in a research note on Friday, June 23rd. BidaskClub raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Vetr raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $55.95 price objective for the company in a research note on Monday, June 26th. Instinet reissued a “buy” rating and issued a $64.00 price objective on shares of Wells Fargo & Co in a research note on Wednesday, July 12th. Finally, Zacks Investment Research raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $56.26.

About Wells Fargo & Co

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

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