Avidian Wealth Enterprises LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 87.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,208 shares of the financial services provider’s stock after purchasing an additional 8,007 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Wells Fargo & Company were worth $1,604,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of WFC. Brighton Jones LLC increased its holdings in shares of Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after purchasing an additional 25,436 shares in the last quarter. Jump Financial LLC increased its holdings in shares of Wells Fargo & Company by 12.9% in the 2nd quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after purchasing an additional 2,615 shares in the last quarter. Main Street Financial Solutions LLC increased its holdings in shares of Wells Fargo & Company by 111.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 7,368 shares in the last quarter. Vivaldi Capital Management LP increased its holdings in shares of Wells Fargo & Company by 5.4% in the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 165 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in shares of Wells Fargo & Company by 51.2% in the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock worth $2,044,000 after purchasing an additional 8,714 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.
Wells Fargo & Company Stock Performance
NYSE WFC opened at $79.27 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. The firm has a market cap of $242.59 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 0.95 and a beta of 0.96. Wells Fargo & Company has a twelve month low of $71.89 and a twelve month high of $97.76. The business has a 50-day moving average price of $80.85 and a 200-day moving average price of $86.21.
Wells Fargo & Company Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, May 8th. Wells Fargo & Company’s payout ratio is currently 27.78%.
Insider Activity
In other news, EVP Kleber Santos sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of the sale, the executive vice president directly owned 79,876 shares of the company’s stock, valued at $7,006,722.72. This trade represents a 23.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Bridget E. Engle sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total value of $2,613,000.00. Following the completion of the sale, the executive vice president directly owned 83,478 shares of the company’s stock, valued at $7,270,933.80. The trade was a 26.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 115,000 shares of company stock valued at $10,050,000 in the last ninety days. Insiders own 0.14% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on WFC shares. Robert W. Baird raised Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 target price for the company in a report on Friday, February 13th. Wall Street Zen lowered Wells Fargo & Company from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. CICC Research assumed coverage on Wells Fargo & Company in a report on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 target price for the company. KGI Securities lowered Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Finally, JPMorgan Chase & Co. cut their price objective on Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating for the company in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.53.
Check Out Our Latest Stock Analysis on WFC
Wells Fargo & Company Company Profile
Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.
Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.
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