Aviso Wealth Management Has $667,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Aviso Wealth Management increased its stake in Wells Fargo & Company (NYSE:WFC) by 4.3% during the second quarter, Holdings Channel.com reports. The fund owned 11,227 shares of the financial services provider’s stock after buying an additional 459 shares during the period. Aviso Wealth Management’s holdings in Wells Fargo & Company were worth $667,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $25,000. Transcendent Capital Group LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $32,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $34,000. Valued Wealth Advisors LLC lifted its stake in shares of 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 acquiring an additional 220 shares during the period. Finally, J.Safra Asset Management Corp lifted its stake in shares of Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WFC has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised 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 cut 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. BMO Capital Markets boosted their price target on 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. Morgan Stanley boosted their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, 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. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $60.29.

Wells Fargo & Company Trading Down 0.9 %

NYSE WFC opened at $55.90 on Friday. The company has a market cap of $194.89 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.32 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The business has a 50 day moving average price of $55.74 and a 200-day moving average price of $57.81. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. As a group, equities analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.86%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is 32.85%.

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.