Tyche Wealth Partners LLC Has $679,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Tyche Wealth Partners LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 5.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,011 shares of the financial services provider’s stock after selling 636 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $679,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company during the 2nd quarter worth about $26,000. Valued Wealth Advisors LLC boosted its stake in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in shares of Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 648 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at about $47,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.1 %

Wells Fargo & Company stock traded up $0.09 during trading hours on Tuesday, hitting $65.70. The stock had a trading volume of 2,894,532 shares, compared to its average volume of 18,002,209. The business’s 50 day simple moving average is $57.78 and its 200-day simple moving average is $58.33. Wells Fargo & Company has a one year low of $38.69 and a one year high of $65.99. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market cap of $223.63 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 1.46 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results 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 company had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.39 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.36 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

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

Wall Street Analyst Weigh In

WFC has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, September 3rd. The Goldman Sachs Group dropped their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Keefe, Bruyette & Woods dropped their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Finally, Piper Sandler raised their target price on shares of Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Thirteen 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 company. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $61.82.

Insider Activity

In related news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the transaction, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 163,610 shares of the company’s stock, valued at $10,421,957. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of the 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 in the company, valued at approximately $7,853,327.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

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.