Gilbert & Cook Inc. Lowers Stock Holdings in Wells Fargo & Company $WFC

Gilbert & Cook Inc. reduced its position in Wells Fargo & Company (NYSE:WFC) by 9.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 21,848 shares of the financial services provider’s stock after selling 2,380 shares during the quarter. Gilbert & Cook Inc.’s holdings in Wells Fargo & Company were worth $1,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Accretive Wealth Partners LLC acquired a new position in Wells Fargo & Company during the 1st quarter worth $399,000. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Wells Fargo & Company by 10.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after purchasing an additional 71,740 shares in the last quarter. Secured Retirement Advisors LLC acquired a new stake in Wells Fargo & Company in the 1st quarter valued at about $408,000. Three Bridge Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 2nd quarter valued at about $364,000. Finally, Allianz SE grew its position in shares of Wells Fargo & Company by 22.6% during the first quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after buying an additional 39,150 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 1.4%

Shares of NYSE:WFC opened at $87.19 on Friday. The firm has a 50 day simple moving average of $82.75 and a 200-day simple moving average of $78.59. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $279.30 billion, a PE ratio of 14.34, a P/E/G ratio of 1.18 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same period last year, the firm posted $1.42 EPS. The company’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WFC. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group reduced their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. UBS Group lowered their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Finally, Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

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.