Massachusetts Wealth Management Has $1.77 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Massachusetts Wealth Management cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,252 shares of the financial services provider’s stock after selling 250 shares during the period. Massachusetts Wealth Management’s holdings in Wells Fargo & Company were worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in WFC. Ellenbecker Investment Group grew its position in Wells Fargo & Company by 3.9% in the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 164 shares during the last quarter. Income Research & Management bought a new position in Wells Fargo & Company in the third quarter valued at about $211,000. John W. Brooker & Co. CPAs grew its position in Wells Fargo & Company by 2.5% in the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock valued at $420,000 after acquiring an additional 171 shares during the last quarter. McAdam LLC grew its position in Wells Fargo & Company by 3.3% in the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 178 shares during the last quarter. Finally, Eclectic Associates Inc. ADV grew its position in Wells Fargo & Company by 1.2% in the third quarter. Eclectic Associates Inc. ADV now owns 15,452 shares of the financial services provider’s stock valued at $873,000 after acquiring an additional 178 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WFC shares. Piper Sandler lifted their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and cut their price target for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, September 3rd. Evercore ISI lifted their price target on Wells Fargo & Company from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Compass Point lifted their price target on Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $61.82.

Wells Fargo & Company Stock Up 0.3 %

Shares of NYSE WFC traded up $0.21 during midday trading on Friday, hitting $65.64. 3,132,157 shares of the stock traded hands, compared to its average volume of 18,027,465. The company has a market cap of $223.42 billion, a PE ratio of 13.67, a P/E/G ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a one year low of $38.62 and a one year high of $65.95. The business has a 50 day moving average price of $57.41 and a two-hundred day moving average price of $58.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.28 by $0.14. The firm had revenue of $20.37 billion during 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%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 earnings per share. On average, equities analysts predict that Wells Fargo & Company will post 5.36 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.44%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

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 on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares in the company, valued at $10,421,957. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were 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 $7,853,327.13. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

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.