MGO One Seven LLC Has $1.78 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

MGO One Seven LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,033 shares of the financial services provider’s stock after selling 1,089 shares during the quarter. MGO One Seven LLC’s holdings in Wells Fargo & Company were worth $1,784,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Core Wealth Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Transcendent Capital Group LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $34,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $34,000. Finally, Valued Wealth Advisors LLC increased its holdings in Wells Fargo & Company by 53.7% in the second 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. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $51.58 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a fifty day moving average price of $56.74 and a 200 day moving average price of $57.90. The stock has a market cap of $179.82 billion, a P/E ratio of 10.59, a PEG ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Analysts anticipate that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WFC shares. The Goldman Sachs Group reduced their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets lifted their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Morgan Stanley raised their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Evercore ISI decreased their price target on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.29.

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.