Wells Fargo & Company $WFC Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.2% during the second quarter, HoldingsChannel reports. The firm owned 78,652 shares of the financial services provider’s stock after selling 1,785 shares during the quarter. Apollon Wealth Management LLC’s holdings in Wells Fargo & Company were worth $6,302,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Wealth Management Partners LLC lifted its position in shares of Wells Fargo & Company by 3.5% during the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 128 shares in the last quarter. Verum Partners LLC raised its holdings in Wells Fargo & Company by 1.8% in the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 128 shares in the last quarter. Motive Wealth Advisors raised its holdings in Wells Fargo & Company by 3.7% in the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 129 shares in the last quarter. Vivid Wealth Management LLC raised its holdings in Wells Fargo & Company by 0.8% in the second quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider’s stock valued at $1,381,000 after acquiring an additional 133 shares in the last quarter. Finally, Lynch & Associates IN raised its holdings in Wells Fargo & Company by 2.0% in the second quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 135 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price target 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. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Weiss Ratings raised shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday. Finally, 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. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.41.

Wells Fargo & Company Stock Down 2.7%

Wells Fargo & Company stock opened at $77.74 on Friday. The company has a 50-day simple moving average of $80.63 and a 200-day simple moving average of $76.53. The firm has a market capitalization of $249.04 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.25 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a one year low of $58.42 and a one 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 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 earnings per share. As a group, equities analysts expect 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 given a dividend of $0.45 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s payout ratio is currently 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.