Tradewinds LLC. Lowers Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Tradewinds LLC. cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,774 shares of the financial services provider’s stock after selling 303 shares during the quarter. Tradewinds LLC.’s holdings in Wells Fargo & Company were worth $496,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Income Research & Management acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at about $211,000. Mattson Financial Services LLC purchased a new stake in Wells Fargo & Company in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the second quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in Wells Fargo & Company during the third quarter worth approximately $34,000. Finally, Valued Wealth Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on WFC. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. The Goldman Sachs Group cut their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Evercore ISI boosted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Thirteen investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.07.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was 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 owns 163,610 shares in the company, valued at $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the transaction, the executive vice president now owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Wells Fargo & Company Stock Up 0.2 %

Shares of Wells Fargo & Company stock opened at $73.58 on Thursday. Wells Fargo & Company has a 1-year low of $42.15 and a 1-year high of $74.70. The company has a market capitalization of $244.98 billion, a PE ratio of 15.30, a P/E/G ratio of 1.53 and a beta of 1.14. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $62.35 and a 200-day moving average of $59.59.

Wells Fargo & Company (NYSE:WFC) last posted 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 company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 EPS. As a group, equities analysts forecast that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

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 issued a $0.40 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.17%. Wells Fargo & Company’s dividend payout ratio is presently 33.26%.

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.