Apollon Wealth Management LLC Sells 2,642 Shares of Wells Fargo & Company (NYSE:WFC)

Apollon Wealth Management LLC decreased its stake in Wells Fargo & Company (NYSE:WFC) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,503 shares of the financial services provider’s stock after selling 2,642 shares during the period. Apollon Wealth Management LLC’s holdings in Wells Fargo & Company were worth $4,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Mattson Financial Services LLC purchased a new stake in Wells Fargo & Company during the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $26,000. Valued Wealth Advisors LLC lifted its position in Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares during the last quarter. J.Safra Asset Management Corp boosted its stake in Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after buying an additional 648 shares in the last quarter. Finally, Fairscale Capital LLC bought a new position in Wells Fargo & Company during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.0 %

Shares of NYSE:WFC opened at $72.58 on Wednesday. The firm has a market capitalization of $241.65 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.57 and a beta of 1.14. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day moving average price of $59.87 and a 200-day moving average price of $58.92. Wells Fargo & Company has a 52-week low of $40.53 and a 52-week high of $74.27.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the company earned $1.39 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.39 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is currently 33.26%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WFC. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, September 3rd. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday, October 8th. Finally, Piper Sandler lifted their price target on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.12.

Insiders Place Their Bets

In other news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Beurden Saul Van sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $61.99, for a total transaction of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at $7,853,327.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

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.