Folger Nolan Fleming Douglas Capital Management Inc. lessened its holdings in shares of Wells Fargo & Co (NYSE:WFC) by 3.8% 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 134,395 shares of the financial services provider’s stock after selling 5,338 shares during the quarter. Wells Fargo & Co makes up 1.1% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Wells Fargo & Co were worth $7,451,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Wells Fargo & Co by 5.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 50,957,630 shares of the financial services provider’s stock valued at $2,670,689,000 after buying an additional 2,497,659 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Wells Fargo & Co by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 41,213,847 shares of the financial services provider’s stock worth $2,160,018,000 after purchasing an additional 722,334 shares during the last quarter. Magellan Asset Management Ltd lifted its holdings in Wells Fargo & Co by 24.1% in the 1st quarter. Magellan Asset Management Ltd now owns 31,024,898 shares of the financial services provider’s stock worth $1,626,015,000 after purchasing an additional 6,017,222 shares during the last quarter. Boston Partners lifted its holdings in Wells Fargo & Co by 12.6% in the 2nd quarter. Boston Partners now owns 21,223,020 shares of the financial services provider’s stock worth $1,176,604,000 after purchasing an additional 2,372,583 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Wells Fargo & Co by 2.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 16,910,637 shares of the financial services provider’s stock worth $937,526,000 after purchasing an additional 372,355 shares during the last quarter. 75.76% of the stock is currently owned by institutional investors.

In other news, EVP Hope A. Hardison sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the transaction, the executive vice president now directly owns 109 shares in the company, valued at $6,323.09. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $5,871,000.00. The disclosure for this sale can be found here. 0.09% of the stock is owned by insiders.

WFC has been the subject of several analyst reports. Morgan Stanley upgraded Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $57.00 to $62.00 in a report on Monday, July 2nd. Zacks Investment Research lowered Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Macquarie lowered Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. They noted that the move was a valuation call. Susquehanna Bancshares set a $63.00 target price on Wells Fargo & Co and gave the stock a “hold” rating in a report on Friday, July 13th. Finally, Keefe, Bruyette & Woods upgraded Wells Fargo & Co from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $57.00 to $63.00 in a report on Sunday, July 15th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $63.34.

Shares of WFC stock opened at $55.00 on Friday. Wells Fargo & Co has a 12 month low of $50.26 and a 12 month high of $66.31. The company has a market cap of $279.89 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.55 and a beta of 1.12. 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 (NYSE:WFC) last issued its quarterly earnings results on Friday, July 13th. The financial services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.04). Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. The business had revenue of $21.55 billion for the quarter, compared to analyst estimates of $21.52 billion. equities analysts anticipate that Wells Fargo & Co will post 4.56 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Stockholders of record on Friday, August 10th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, August 9th. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.13%. Wells Fargo & Co’s payout ratio is 41.85%.

Wells Fargo & Co Profile

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: Marijuana Stocks Investing Considerations

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.