Avidian Wealth Enterprises LLC Has $704,000 Stock Holdings in Wells Fargo & Company $WFC

Avidian Wealth Enterprises LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 16.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,787 shares of the financial services provider’s stock after acquiring an additional 1,240 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Wells Fargo & Company were worth $704,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. McElhenny Sheffield Capital Management LLC acquired a new position in Wells Fargo & Company during the second quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC lifted its position in 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 purchasing an additional 322 shares during the period. Accent Capital Management LLC acquired a new stake in Wells Fargo & Company during the first quarter worth about $29,000. Motco increased its holdings in Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after buying an additional 326 shares during the period. Finally, Nova Wealth Management Inc. increased its holdings in Wells Fargo & Company by 112.9% in the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock valued at $34,000 after buying an additional 227 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Down 1.5%

WFC opened at $84.77 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $87.47. The firm has a market capitalization of $271.56 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.19 and a beta of 1.25. The company’s 50 day moving average price is $81.49 and its two-hundred day moving average price is $77.24.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a $0.45 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Analyst Ratings Changes

A number of analysts have recently weighed in on WFC shares. Truist Financial upped their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. The Goldman Sachs Group cut their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Morgan Stanley boosted their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Finally, Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Ten investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.