Garde Capital Inc. reduced its stake in Wells Fargo & Company (NYSE:WFC) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,706 shares of the financial services provider’s stock after selling 50 shares during the period. Garde Capital Inc.’s holdings in Wells Fargo & were worth $206,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Alexandria Capital LLC raised its position in shares of Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after buying an additional 6 shares during the period. Brick & Kyle Associates raised its position in shares of Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in shares of Wells Fargo & during the first quarter worth approximately $124,000. Gradient Investments LLC raised its position in shares of Wells Fargo & by 58.6% in the first quarter. Gradient Investments LLC now owns 2,494 shares of the financial services provider’s stock worth $139,000 after buying an additional 921 shares during the period. Finally, Winch Advisory Services LLC raised its position in shares of Wells Fargo & by 0.7% in the first quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock worth $153,000 after buying an additional 18 shares during the period. 76.05% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company (NYSE WFC) traded up 0.5554% on Tuesday, reaching $53.1335. 2,697,294 shares of the company’s stock were exchanged. The company has a market capitalization of $263.75 billion, a P/E ratio of 13.0871 and a beta of 0.95. The firm has a 50-day moving average price of $54.26 and a 200-day moving average price of $54.96. Wells Fargo & Company has a 1-year low of $43.55 and a 1-year high of $59.99.

Wells Fargo & (NYSE:WFC) last released its earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.23 billion. During the same quarter last year, the business earned $1.01 EPS. The business’s revenue was up .2% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post $4.17 earnings per share for the current year.

Wells Fargo & announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $11.50 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Wednesday, August 2nd. This is a boost from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s dividend payout ratio (DPR) is 38.42%.

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A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of Wells Fargo & from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. BMO Capital Markets raised shares of Wells Fargo & from an “underperform” rating to a “market perform” rating and reduced their target price for the stock from $50.00 to $47.00 in a research report on Monday, July 31st. They noted that the move was a valuation call. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Wells Fargo & in a research report on Sunday, July 30th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 target price on shares of Wells Fargo & in a research report on Friday, July 28th. Finally, Berenberg Bank lowered shares of Wells Fargo & from a “hold” rating to a “sell” rating and raised their target price for the stock from $35.00 to $45.00 in a research report on Friday, July 21st. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Wells Fargo & has an average rating of “Hold” and an average target price of $55.87.

In related news, insider Michael J. Loughlin sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $52.16, for a total value of $1,043,200.00. Following the completion of the sale, the insider now owns 7 shares in the company, valued at $365.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Petros G. Pelos sold 24,708 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $54.07, for a total transaction of $1,335,961.56. The disclosure for this sale can be found here. Insiders sold a total of 131,278 shares of company stock valued at $6,940,120 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Wells Fargo & Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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Institutional Ownership by Quarter for Wells Fargo & (NYSE:WFC)

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