Wells Fargo & Company $WFC is Advanced Portfolio Management LLC’s 3rd Largest Position

Advanced Portfolio Management LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 346.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,546 shares of the financial services provider’s stock after acquiring an additional 17,500 shares during the period. Wells Fargo & Company comprises approximately 5.0% of Advanced Portfolio Management LLC’s holdings, making the stock its 3rd biggest holding. Advanced Portfolio Management LLC’s holdings in Wells Fargo & Company were worth $1,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Access Investment Management LLC purchased a new position in Wells Fargo & Company in the second quarter valued at about $25,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after buying an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $27,000. 1248 Management LLC purchased a new stake in shares of Wells Fargo & Company during the 1st quarter valued at about $31,000. Finally, Kilter Group LLC acquired a new position in Wells Fargo & Company during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC opened at $90.13 on Friday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $90.63. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The firm has a market cap of $282.93 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.92 and a beta of 1.11. The stock has a 50 day moving average of $84.53 and a 200-day moving average of $80.99.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same period in the prior year, the company posted $1.42 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WFC shares. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, October 15th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. UBS Group decreased their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, TD Cowen raised their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.57.

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.