M.E. Allison & CO. Inc. Sells 633 Shares of Wells Fargo & Company $WFC

M.E. Allison & CO. Inc. reduced its position in Wells Fargo & Company (NYSE:WFC) by 3.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,752 shares of the financial services provider’s stock after selling 633 shares during the quarter. Wells Fargo & Company comprises about 1.2% of M.E. Allison & CO. Inc.’s holdings, making the stock its 22nd biggest holding. M.E. Allison & CO. Inc.’s holdings in Wells Fargo & Company were worth $1,502,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wealth Management Partners LLC lifted its stake in Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 128 shares during the period. Verum Partners LLC lifted its stake in Wells Fargo & Company by 1.8% during the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 128 shares during the period. Motive Wealth Advisors lifted its stake in Wells Fargo & Company by 3.7% during the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 129 shares during the period. Vivid Wealth Management LLC lifted its stake in Wells Fargo & Company by 0.8% during the 2nd quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider’s stock valued at $1,381,000 after acquiring an additional 133 shares during the period. Finally, Lynch & Associates IN lifted its stake in Wells Fargo & Company by 2.0% during the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 135 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WFC shares. Dbs Bank upgraded shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Raymond James Financial cut shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Morgan Stanley cut shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $87.00 to $90.00 in a research note on Monday, September 29th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $85.41.

Wells Fargo & Company Price Performance

NYSE WFC opened at $77.74 on Monday. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $86.65. The stock has a market cap of $249.04 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.25 and a beta of 1.25. The company’s 50 day moving average is $80.63 and its two-hundred day moving average is $76.56. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06.

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

Wells Fargo & Company Increases Dividend

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