Baxter Bros Inc. Sells 1,640 Shares of Wells Fargo & Company $WFC

Baxter Bros Inc. trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.5% in the second quarter, HoldingsChannel reports. The firm owned 107,832 shares of the financial services provider’s stock after selling 1,640 shares during the quarter. Wells Fargo & Company accounts for about 1.1% of Baxter Bros Inc.’s holdings, making the stock its 26th largest holding. Baxter Bros Inc.’s holdings in Wells Fargo & Company were worth $8,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares in the last quarter. Motco lifted its holdings in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares in the last quarter. Accent Capital Management LLC acquired a new stake in shares of Wells Fargo & Company during the first quarter worth $29,000. 1248 Management LLC acquired a new stake in shares of Wells Fargo & Company during the first quarter worth $31,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the first quarter worth $34,000. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday. Citigroup lifted their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Morgan Stanley downgraded Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $87.00 to $90.00 in a research note on Monday, September 29th. Finally, Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.41.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $79.74 on Thursday. The stock has a market cap of $255.44 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The stock’s 50-day moving average is $80.65 and its 200-day moving average is $76.44. Wells Fargo & Company has a 1-year low of $57.07 and a 1-year high of $86.65.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

Wells Fargo & Company Profile

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.