Axxcess Wealth Management LLC Decreases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Axxcess Wealth Management LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,577 shares of the financial services provider’s stock after selling 5,456 shares during the period. Axxcess Wealth Management LLC’s holdings in Wells Fargo & Company were worth $5,238,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WFC. MidAtlantic Capital Management Inc. bought a new position in Wells Fargo & Company during the 3rd quarter valued at approximately $34,000. Caprock Group LLC lifted its stake in Wells Fargo & Company by 1.5% in the third quarter. Caprock Group LLC now owns 83,671 shares of the financial services provider’s stock worth $4,727,000 after acquiring an additional 1,214 shares during the period. OneAscent Financial Services LLC bought a new stake in Wells Fargo & Company in the third quarter valued at $1,131,000. Prospera Financial Services Inc increased its position in Wells Fargo & Company by 19.8% during the 3rd quarter. Prospera Financial Services Inc now owns 138,432 shares of the financial services provider’s stock valued at $7,820,000 after purchasing an additional 22,854 shares during the period. Finally, Wrapmanager Inc. raised its holdings in Wells Fargo & Company by 2.3% in the 3rd quarter. Wrapmanager Inc. now owns 33,844 shares of the financial services provider’s stock worth $1,912,000 after purchasing an additional 768 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $71.08 on Wednesday. The company has a market cap of $233.72 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 1.18 and a beta of 1.16. The business’s fifty day simple moving average is $75.86 and its two-hundred day simple moving average is $69.19. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the firm posted $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WFC shares. Citigroup lifted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $74.39.

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.