Successful Portfolios LLC Sells 954 Shares of Wells Fargo & Company (NYSE:WFC)

Successful Portfolios LLC decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 13.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,264 shares of the financial services provider’s stock after selling 954 shares during the period. Successful Portfolios LLC’s holdings in Wells Fargo & Company were worth $363,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. United Services Automobile Association raised its stake in Wells Fargo & Company by 13.7% in the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after buying an additional 11,825 shares during the period. Slagle Financial LLC grew its position in shares of Wells Fargo & Company by 97.3% in the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock valued at $6,822,000 after purchasing an additional 68,356 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Wells Fargo & Company by 5.4% in the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock valued at $2,074,000 after purchasing an additional 1,835 shares during the last quarter. Trust Point Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $2,499,000. Finally, Wedmont Private Capital grew its position in shares of Wells Fargo & Company by 16.4% in the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock valued at $8,805,000 after purchasing an additional 21,496 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $59.39 on Monday. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The company’s 50 day moving average price is $59.55 and its two-hundred day moving average price is $55.15. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The stock has a market cap of $207.05 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter last year, the firm earned $1.23 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.36%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Analysts Set New Price Targets

Several equities analysts have recently commented on WFC shares. Citigroup reaffirmed a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. JPMorgan Chase & Co. increased their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Argus increased their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. HSBC increased their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Fourteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $59.15.

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.