Asset Planning Inc Has $239,000 Holdings in Wells Fargo & Company $WFC

Asset Planning Inc lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 41.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,985 shares of the financial services provider’s stock after selling 2,121 shares during the quarter. Asset Planning Inc’s holdings in Wells Fargo & Company were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC lifted its position in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC bought a new stake in Wells Fargo & Company in the second quarter valued at $27,000. Motco grew its position in Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 326 shares during the period. Accent Capital Management LLC bought a new stake in Wells Fargo & Company in the first quarter valued at $29,000. Finally, 1248 Management LLC bought a new stake in Wells Fargo & Company in the first quarter valued at $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Evercore ISI upped their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday. Finally, Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.41.

Wells Fargo & Company Trading Down 2.7%

WFC stock opened at $77.74 on Friday. The company has a market cap of $249.04 billion, a P/E ratio of 13.31, a PEG ratio of 1.25 and a beta of 1.25. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $86.65. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The business has a fifty day moving average of $80.63 and a 200-day moving average of $76.53.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.33 earnings per share. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. Wells Fargo & Company’s dividend payout ratio is presently 30.82%.

About Wells Fargo & Company

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.