Platform Technology Partners Has $483,000 Stake in Wells Fargo & Company (NYSE:WFC)

Platform Technology Partners decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,302 shares of the financial services provider’s stock after selling 308 shares during the quarter. Platform Technology Partners’ holdings in Wells Fargo & Company were worth $483,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. increased its stake in shares of Wells Fargo & Company by 1.3% in the first quarter. Principal Financial Group Inc. now owns 4,664,647 shares of the financial services provider’s stock valued at $174,365,000 after buying an additional 58,249 shares during the period. Atria Investments Inc increased its stake in shares of Wells Fargo & Company by 18.2% in the first quarter. Atria Investments Inc now owns 185,306 shares of the financial services provider’s stock valued at $6,927,000 after buying an additional 28,551 shares during the period. Wayfinding Financial LLC increased its stake in shares of Wells Fargo & Company by 5.1% in the first quarter. Wayfinding Financial LLC now owns 7,421 shares of the financial services provider’s stock valued at $277,000 after buying an additional 363 shares during the period. J.W. Cole Advisors Inc. increased its stake in shares of Wells Fargo & Company by 13.0% in the first quarter. J.W. Cole Advisors Inc. now owns 25,076 shares of the financial services provider’s stock valued at $937,000 after buying an additional 2,888 shares during the period. Finally, Evermay Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 4.3% in the first quarter. Evermay Wealth Management LLC now owns 8,665 shares of the financial services provider’s stock valued at $324,000 after buying an additional 361 shares during the period. Institutional investors and hedge funds own 72.47% of the company’s stock.

Wells Fargo & Company Stock Up 1.1 %

Shares of WFC traded up $0.48 during trading hours on Monday, reaching $43.43. The stock had a trading volume of 5,816,922 shares, compared to its average volume of 20,320,857. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a 50-day simple moving average of $43.43 and a 200 day simple moving average of $41.42. Wells Fargo & Company has a 12 month low of $35.25 and a 12 month high of $48.84. The company has a market capitalization of $158.90 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 0.87 and a beta of 1.14.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. Wells Fargo & Company had a return on equity of 11.15% and a net margin of 16.18%. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.11 billion. During the same period last year, the business earned $0.74 EPS. The business’s revenue was up 20.5% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Company will post 4.84 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, August 3rd. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 3.22%. Wells Fargo & Company’s dividend payout ratio (DPR) is 35.00%.

Wall Street Analyst Weigh In

WFC has been the subject of several recent research reports. Atlantic Securities upped their price objective on Wells Fargo & Company from $50.00 to $52.50 and gave the company an “overweight” rating in a research note on Tuesday, August 1st. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $43.75 target price for the company. in a research report on Monday, July 17th. StockNews.com initiated coverage on shares of Wells Fargo & Company in a research report on Thursday, August 17th. They set a “hold” rating for the company. Wolfe Research downgraded shares of Wells Fargo & Company from an “outperform” rating to a “peer perform” rating in a research report on Friday, July 7th. Finally, VNET Group reissued a “maintains” rating on shares of Wells Fargo & Company in a research report on Monday, June 26th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.39.

Wells Fargo & Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.