Choate Investment Advisors lessened its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 10.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,825 shares of the financial services provider’s stock after selling 6,106 shares during the quarter. Choate Investment Advisors’ holdings in Wells Fargo & Co were worth $3,039,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in WFC. Kessler Investment Group LLC grew its stake in shares of Wells Fargo & Co by 2.3% in the 2nd quarter. Kessler Investment Group LLC now owns 38,680 shares of the financial services provider’s stock valued at $2,144,000 after buying an additional 875 shares in the last quarter. Community Trust & Investment Co. grew its stake in shares of Wells Fargo & Co by 13.1% in the 2nd quarter. Community Trust & Investment Co. now owns 7,723 shares of the financial services provider’s stock valued at $428,000 after buying an additional 894 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its stake in shares of Wells Fargo & Co by 2.8% in the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 33,937 shares of the financial services provider’s stock valued at $1,881,000 after buying an additional 909 shares in the last quarter. Cypress Wealth Advisors LLC grew its stake in shares of Wells Fargo & Co by 9.8% in the 1st quarter. Cypress Wealth Advisors LLC now owns 10,221 shares of the financial services provider’s stock valued at $536,000 after buying an additional 916 shares in the last quarter. Finally, Carlson Capital Management grew its stake in shares of Wells Fargo & Co by 3.9% in the 2nd quarter. Carlson Capital Management now owns 24,698 shares of the financial services provider’s stock valued at $1,369,000 after buying an additional 925 shares in the last quarter. 76.39% of the stock is currently owned by institutional investors.

In other Wells Fargo & Co news, EVP Avid Modjtabai sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $58.71, for a total transaction of $5,871,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Petros G. Pelos sold 25,567 shares of the company’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $54.76, for a total value of $1,400,048.92. The disclosure for this sale can be found here. Insiders have sold 150,567 shares of company stock valued at $8,721,299 in the last ninety days. Company insiders own 0.09% of the company’s stock.

Several brokerages recently commented on WFC. Zacks Investment Research cut Wells Fargo & Co from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Morgan Stanley lowered their price target on Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, July 16th. Keefe, Bruyette & Woods raised Wells Fargo & Co from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $57.00 to $63.00 in a research note on Sunday, July 15th. They noted that the move was a valuation call. Susquehanna Bancshares set a $63.00 price target on Wells Fargo & Co and gave the company a “hold” rating in a research note on Friday, July 13th. Finally, Macquarie raised Wells Fargo & Co from an “underperform” rating to an “outperform” rating in a research note on Monday, April 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. Wells Fargo & Co currently has an average rating of “Buy” and an average price target of $63.34.

Shares of Wells Fargo & Co stock opened at $58.86 on Friday. The company has a market cap of $283.15 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 1.57 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.88 and a quick ratio of 0.86. Wells Fargo & Co has a 12-month low of $49.27 and a 12-month high of $66.31.

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Friday, August 10th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, August 9th. This represents a $1.72 dividend on an annualized basis and a yield of 2.92%. This is a boost from Wells Fargo & Co’s previous quarterly dividend of $0.39. Wells Fargo & Co’s dividend payout ratio is presently 41.85%.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

Featured Article: Stock Symbols and CUSIP Explained

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Co (NYSE:WFC).

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

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.