Alpha Cubed Investments LLC increased its position in Wells Fargo & Co (NYSE:WFC) by 14.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,213 shares of the financial services provider’s stock after purchasing an additional 21,369 shares during the period. Wells Fargo & Co accounts for 1.4% of Alpha Cubed Investments LLC’s portfolio, making the stock its 27th biggest position. Alpha Cubed Investments LLC’s holdings in Wells Fargo & Co were worth $9,332,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Delphi Private Advisors LLC lifted its holdings in shares of Wells Fargo & Co by 262.8% during the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,461 shares in the last quarter. Brick & Kyle Associates lifted its holdings in Wells Fargo & Co by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 162 shares during the period. Stelac Advisory Services LLC bought a new position in Wells Fargo & Co in the second quarter valued at about $104,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in Wells Fargo & Co by 0.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 6 shares during the period. Finally, Clear Investment Research LLC bought a new position in Wells Fargo & Co in the second quarter valued at about $121,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.
In other Wells Fargo & Co news, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard Levy sold 97,000 shares of Wells Fargo & Co stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. Insiders have sold a total of 184,482 shares of company stock worth $10,471,050 over the last 90 days. 0.22% of the stock is currently owned by company insiders.
A number of research analysts have weighed in on WFC shares. Sandler O’Neill raised Wells Fargo & Co from a “hold” rating to a “buy” rating and increased their target price for the company from $62.04 to $73.00 in a report on Tuesday. Vetr cut Wells Fargo & Co from a “hold” rating to a “sell” rating and set a $54.49 price target for the company. in a research report on Thursday, November 2nd. Zacks Investment Research upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. UBS Group restated a “neutral” rating and issued a $56.00 price target (down previously from $59.00) on shares of Wells Fargo & Co in a research report on Friday, September 15th. Finally, Buckingham Research upgraded Wells Fargo & Co from a “neutral” rating to a “buy” rating and upped their price target for the stock from $57.00 to $75.00 in a research report on Thursday, December 21st. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.02.
Shares of Wells Fargo & Co (NYSE:WFC) traded down $0.45 during mid-day trading on Friday, hitting $62.55. The company had a trading volume of 25,890,000 shares, compared to its average volume of 20,510,000. Wells Fargo & Co has a 52-week low of $49.27 and a 52-week high of $63.67. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. The company has a market cap of $308,240.00, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.66 and a beta of 0.96.
Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.07). The business had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. Wells Fargo & Co had a return on equity of 12.59% and a net margin of 22.00%. Wells Fargo & Co’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. equities research analysts anticipate that Wells Fargo & Co will post 3.98 earnings per share for the current fiscal year.
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Wells Fargo & Co 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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