Wells Fargo & Company $WFC Stake Boosted by Aspiriant LLC

Aspiriant LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,650 shares of the financial services provider’s stock after purchasing an additional 769 shares during the quarter. Aspiriant LLC’s holdings in Wells Fargo & Company were worth $1,815,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Wealth Management Partners LLC lifted its stake in Wells Fargo & Company by 3.5% during the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 128 shares during the last quarter. Verum Partners LLC lifted its stake in Wells Fargo & Company by 1.8% during the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 128 shares during the last quarter. Motive Wealth Advisors lifted its stake in Wells Fargo & Company by 3.7% during the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 129 shares during the last quarter. Vivid Wealth Management LLC lifted its stake in Wells Fargo & Company by 0.8% during the second quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 133 shares during the last quarter. Finally, Lynch & Associates IN lifted its stake in Wells Fargo & Company by 2.0% during the second quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 135 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WFC has been the topic of several research analyst reports. TD Cowen raised their price objective on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Morgan Stanley increased their target price on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Bank of America increased their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Citigroup increased their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Price Performance

Shares of WFC opened at $83.25 on Friday. The firm has a market capitalization of $266.70 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 1.16 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a one year low of $58.42 and a one year high of $87.47. The stock’s fifty day moving average is $81.21 and its 200-day moving average is $76.90.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $1.33 earnings per share. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Wells Fargo & 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.