Aprio Wealth Management LLC Sells 372 Shares of Wells Fargo & Company (NYSE:WFC)

Aprio Wealth Management LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 5.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,377 shares of the financial services provider’s stock after selling 372 shares during the period. Aprio Wealth Management LLC’s holdings in Wells Fargo & Company were worth $360,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. John W. Brooker & Co. CPAs lifted its position in Wells Fargo & Company by 2.5% during the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 171 shares in the last quarter. McAdam LLC lifted its position in Wells Fargo & Company by 3.3% during the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 178 shares in the last quarter. Eclectic Associates Inc. ADV lifted its position in Wells Fargo & Company by 1.2% during the third quarter. Eclectic Associates Inc. ADV now owns 15,452 shares of the financial services provider’s stock valued at $873,000 after purchasing an additional 178 shares in the last quarter. Prentice Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 2.0% in the second quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 184 shares in the last quarter. Finally, Clearstead Trust LLC lifted its position in shares of Wells Fargo & Company by 13.0% in the first quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 186 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.2 %

Wells Fargo & Company stock opened at $57.28 on Wednesday. The business has a fifty day moving average of $55.31 and a two-hundred day moving average of $57.75. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a market cap of $199.70 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.32 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $38.58 and a twelve month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. Wells Fargo & Company’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.79%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on WFC shares. BMO Capital Markets boosted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and reduced their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday. Keefe, Bruyette & Woods reduced their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, September 3rd. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.65.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.