Duality Advisers LP bought a new position in shares of Wells Fargo & Co (NYSE:WFC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 75,658 shares of the financial services provider’s stock, valued at approximately $1,937,000.
Several other hedge funds also recently made changes to their positions in WFC. Your Advocates Ltd. LLP bought a new stake in shares of Wells Fargo & Co during the 1st quarter worth about $26,000. HHM Wealth Advisors LLC bought a new stake in Wells Fargo & Co in the 1st quarter valued at about $27,000. Watson Rebecca bought a new stake in Wells Fargo & Co in the 2nd quarter valued at about $37,000. Global Wealth Management Investment Advisory Inc. boosted its holdings in Wells Fargo & Co by 95.0% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 1,320 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 643 shares during the period. Finally, Selective Wealth Management Inc. boosted its holdings in Wells Fargo & Co by 227.2% in the 2nd quarter. Selective Wealth Management Inc. now owns 1,623 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 1,127 shares during the period. 72.93% of the stock is owned by institutional investors and hedge funds.
WFC stock opened at $24.26 on Friday. The stock has a 50-day moving average price of $26.02 and a 200-day moving average price of $32.85. Wells Fargo & Co has a 1-year low of $22.00 and a 1-year high of $54.75. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.45. The firm has a market cap of $99.47 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 36.18 and a beta of 1.15.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, August 6th. Wells Fargo & Co’s dividend payout ratio is currently 46.58%.
WFC has been the subject of a number of recent research reports. Robert W. Baird raised shares of Wells Fargo & Co from a “neutral” rating to an “outperform” rating and set a $35.00 price objective for the company in a report on Friday, July 10th. DA Davidson began coverage on shares of Wells Fargo & Co in a research report on Thursday, May 28th. They issued a “neutral” rating and a $27.00 target price for the company. Atlantic Securities upgraded shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $28.00 to $30.00 in a research report on Wednesday, July 22nd. Morgan Stanley dropped their target price on shares of Wells Fargo & Co from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. Finally, ValuEngine upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $33.31.
Wells Fargo & Co Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.
See Also: Discover Your Risk Tolerance
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).
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.