Wells Fargo & Company (NYSE:WFC) Position Raised by Drucker Wealth 3.0 LLC

Drucker Wealth 3.0 LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.8% in the third quarter, HoldingsChannel reports. The firm owned 89,361 shares of the financial services provider’s stock after acquiring an additional 1,570 shares during the period. Wells Fargo & Company makes up 1.2% of Drucker Wealth 3.0 LLC’s investment portfolio, making the stock its 24th largest position. Drucker Wealth 3.0 LLC’s holdings in Wells Fargo & Company were worth $5,048,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in WFC. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company during the 2nd quarter worth about $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $29,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $34,000. Finally, FSA Wealth Management LLC bought a new stake in Wells Fargo & Company during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WFC shares. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and lowered their price objective for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Tuesday, October 8th. Compass Point boosted their target price on Wells Fargo & Company from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $65.47.

Wells Fargo & Company Stock Up 0.9 %

Shares of NYSE WFC opened at $74.33 on Monday. The stock has a market cap of $247.48 billion, a PE ratio of 15.45, a PEG ratio of 1.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The business has a fifty day moving average of $67.39 and a two-hundred day moving average of $60.79. Wells Fargo & Company has a 52-week low of $44.65 and a 52-week high of $78.13.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts expect that Wells Fargo & Company will post 5.42 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. Wells Fargo & Company’s payout ratio is 33.26%.

Insider Activity at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.