Wells Fargo & Company $WFC Shares Acquired by Physician Wealth Advisors Inc.

Physician Wealth Advisors Inc. increased its holdings in Wells Fargo & Company (NYSE:WFC) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,303 shares of the financial services provider’s stock after acquiring an additional 192 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in Wells Fargo & Company were worth $585,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC raised its stake in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after buying an additional 322 shares in the last quarter. Motco raised its stake in Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after buying an additional 326 shares in the last quarter. Accent Capital Management LLC acquired a new stake in Wells Fargo & Company during the first quarter valued at approximately $29,000. 1248 Management LLC acquired a new stake in Wells Fargo & Company during the first quarter valued at approximately $31,000. Finally, Stone House Investment Management LLC acquired a new stake in Wells Fargo & Company during the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on WFC. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. The Goldman Sachs Group cut their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Finally, Citigroup reiterated a “neutral” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $82.56.

Wells Fargo & Company Stock Performance

WFC opened at $84.61 on Friday. The firm has a market cap of $271.04 billion, a PE ratio of 14.49, a P/E/G ratio of 1.32 and a beta of 1.25. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The business has a fifty day simple moving average of $80.44 and a 200-day simple moving average of $75.38. Wells Fargo & Company has a fifty-two week low of $53.31 and a fifty-two week high of $84.93.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $1.33 EPS. As a group, equities analysts predict 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. Stockholders of record on Friday, August 8th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is 30.82%.

Wells Fargo & Company Company Profile

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.