Wells Fargo & Company $WFC Shares Sold by Asset Planning Inc

Asset Planning Inc reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 41.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,985 shares of the financial services provider’s stock after selling 2,121 shares during the period. Asset Planning Inc’s holdings in Wells Fargo & Company were worth $239,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Johnson Investment Counsel Inc. increased its position in Wells Fargo & Company by 3.9% in the second quarter. Johnson Investment Counsel Inc. now owns 31,362 shares of the financial services provider’s stock worth $2,513,000 after buying an additional 1,165 shares during the period. Investment Advisory Group LLC grew its stake in shares of Wells Fargo & Company by 25.1% in the second quarter. Investment Advisory Group LLC now owns 4,011 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 804 shares in the last quarter. Keener Financial Planning LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth $80,000. Hemington Wealth Management boosted its stake in Wells Fargo & Company by 17.0% during the second quarter. Hemington Wealth Management now owns 2,948 shares of the financial services provider’s stock valued at $236,000 after buying an additional 428 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 21.1% during the second quarter. Fifth Third Wealth Advisors LLC now owns 64,985 shares of the financial services provider’s stock valued at $5,207,000 after buying an additional 11,305 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WFC. Truist Financial increased their price target on Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Evercore ISI raised their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Finally, UBS Group cut their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $85.41.

Wells Fargo & Company Stock Performance

WFC opened at $77.74 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average price is $80.63 and its two-hundred day moving average price is $76.53. The firm has a market capitalization of $249.04 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 1.25 and a beta of 1.25. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $86.65.

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

Wells Fargo & Company Increases Dividend

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

About Wells Fargo & Company

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.