Baxter Bros Inc. Has $8.64 Million Holdings in Wells Fargo & Company $WFC

Baxter Bros Inc. reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 107,832 shares of the financial services provider’s stock after selling 1,640 shares during the period. Wells Fargo & Company makes up approximately 1.1% of Baxter Bros Inc.’s holdings, making the stock its 26th biggest holding. Baxter Bros Inc.’s holdings in Wells Fargo & Company were worth $8,640,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after buying an additional 949,735,001 shares during the period. Dimensional Fund Advisors LP raised its holdings in Wells Fargo & Company by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock worth $1,471,259,000 after buying an additional 128,207 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Wells Fargo & Company by 277.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after buying an additional 7,894,919 shares during the period. Boston Partners raised its holdings in Wells Fargo & Company by 6.2% during the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock worth $640,616,000 after buying an additional 523,107 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Wells Fargo & Company by 10.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,009,440 shares of the financial services provider’s stock worth $431,418,000 after buying an additional 544,473 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $79.74 on Thursday. Wells Fargo & Company has a 1-year low of $57.07 and a 1-year high of $86.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $80.65 and a 200 day simple moving average of $76.44. The stock has a market capitalization of $255.44 billion, a PE ratio of 13.65, a P/E/G ratio of 1.31 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.83 billion. During the same period last year, the business earned $1.33 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WFC shares. UBS Group decreased their price target 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. Morgan Stanley cut shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $87.00 to $90.00 in a research note on Monday, September 29th. Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. The Goldman Sachs Group decreased their price target on shares of 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. Finally, Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.41.

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.