Thrive Wealth Management LLC Acquires 737 Shares of Wells Fargo & Company (NYSE:WFC)

Thrive Wealth Management LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 10.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,618 shares of the financial services provider’s stock after buying an additional 737 shares during the quarter. Thrive Wealth Management LLC’s holdings in Wells Fargo & Company were worth $442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $25,000. Arlington Trust Co LLC bought a new position in Wells Fargo & Company in the 4th quarter worth $25,000. Core Wealth Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. raised its position in shares of Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in Wells Fargo & Company in the fourth quarter worth $29,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $0.41 during mid-day trading on Thursday, reaching $57.42. 13,641,330 shares of the company traded hands, compared to its average volume of 18,465,986. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The firm’s fifty day moving average is $59.59 and its two-hundred day moving average is $54.93. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $200.18 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared 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. This represents a $1.40 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WFC. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Compass Point reissued a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group raised their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average target price of $59.15.

Wells Fargo & Company Company Profile

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.