Wells Fargo & Co (WFC) Shares Bought by Doyle Wealth Management

Doyle Wealth Management raised its holdings in Wells Fargo & Co (NYSE:WFC) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 210,415 shares of the financial services provider’s stock after acquiring an additional 4,018 shares during the period. Wells Fargo & Co comprises about 2.0% of Doyle Wealth Management’s investment portfolio, making the stock its 19th largest holding. Doyle Wealth Management’s holdings in Wells Fargo & Co were worth $11,604,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WFC. Boston Partners boosted its position in shares of Wells Fargo & Co by 140.1% during the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after buying an additional 11,139,780 shares during the period. Capital World Investors boosted its position in shares of Wells Fargo & Co by 10.8% during the second quarter. Capital World Investors now owns 111,753,448 shares of the financial services provider’s stock worth $6,192,259,000 after buying an additional 10,927,679 shares during the period. Capital Research Global Investors boosted its position in shares of Wells Fargo & Co by 19.7% during the second quarter. Capital Research Global Investors now owns 45,327,803 shares of the financial services provider’s stock worth $2,511,614,000 after buying an additional 7,445,414 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Wells Fargo & Co by 26.7% during the second quarter. Dimensional Fund Advisors LP now owns 29,838,289 shares of the financial services provider’s stock worth $1,653,464,000 after buying an additional 6,291,906 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Wells Fargo & Co by 396.3% during the second quarter. Janus Henderson Group PLC now owns 5,894,918 shares of the financial services provider’s stock worth $326,655,000 after buying an additional 4,707,207 shares during the period. 75.70% of the stock is owned by institutional investors.

WFC has been the topic of several analyst reports. Vetr upgraded Wells Fargo & Co to a “strong-buy” rating in a report on Thursday, September 7th. Vertical Group upgraded Wells Fargo & Co from a “sell” rating to a “buy” rating in a report on Thursday, December 7th. Goldman Sachs Group reiterated a “buy” rating on shares of Wells Fargo & Co in a report on Wednesday, October 11th. Royal Bank of Canada restated a “buy” rating and issued a $60.00 price objective on shares of Wells Fargo & Co in a research note on Wednesday, November 15th. Finally, Robert W. Baird restated a “buy” rating and issued a $58.00 price objective on shares of Wells Fargo & Co in a research note on Tuesday, September 5th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $57.75.

In other Wells Fargo & Co news, insider Michael J. Loughlin sold 17,482 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $57.80, for a total value of $1,010,459.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John R. Shrewsberry sold 70,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The disclosure for this sale can be found here. Insiders have sold 184,482 shares of company stock worth $10,471,050 in the last three months. 0.22% of the stock is currently owned by company insiders.

Shares of Wells Fargo & Co (WFC) opened at $60.95 on Thursday. The stock has a market capitalization of $303,088.25, a P/E ratio of 15.75, a P/E/G ratio of 1.90 and a beta of 0.96. Wells Fargo & Co has a 12-month low of $49.27 and a 12-month high of $62.24. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Co had a return on equity of 12.59% and a net margin of 22.00%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. analysts forecast that Wells Fargo & Co will post 3.99 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Co’s dividend payout ratio is currently 40.31%.

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Wells Fargo & Co Company Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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