Wells Fargo & Company (NYSE:WFC) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,312 shares of the financial services provider’s stock after selling 180 shares during the period. Linscomb Wealth Inc.’s holdings in Wells Fargo & Company were worth $526,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Income Research & Management acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at about $211,000. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $26,000. Valued Wealth Advisors LLC increased its holdings in shares of Wells Fargo & Company by 53.7% during 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. Finally, Fairscale Capital LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $74.34 on Friday. The stock has a market cap of $247.51 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.52 and a beta of 1.14. The company has a fifty day simple moving average of $61.17 and a 200-day simple moving average of $59.30. Wells Fargo & Company has a 12-month low of $41.99 and a 12-month high of $74.41. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 EPS. Equities analysts expect that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.15%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley cut their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Thirteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.12.

Insider Buying and Selling

In related news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the sale, the executive vice president now directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 26.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction 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 sale, the executive vice president now owns 126,687 shares in the company, valued at $7,853,327.13. This represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

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.