Icon Wealth Advisors LLC Has $214,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Icon Wealth Advisors LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 69.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,790 shares of the financial services provider's stock after selling 8,511 shares during the quarter. Icon Wealth Advisors LLC's holdings in Wells Fargo & Company were worth $214,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cardinal Capital Management Inc. lifted its holdings in Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider's stock worth $32,505,000 after buying an additional 11,037 shares in the last quarter. Chartwell Investment Partners LLC lifted its holdings in Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider's stock worth $7,504,000 after buying an additional 18,717 shares in the last quarter. Argus Investors Counsel Inc. lifted its holdings in Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider's stock worth $1,780,000 after buying an additional 8,107 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in Wells Fargo & Company by 111.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 34,464 shares of the financial services provider's stock worth $1,947,000 after buying an additional 18,138 shares in the last quarter. Finally, Portfolio Design Labs LLC lifted its stake in shares of Wells Fargo & Company by 41.2% in the 3rd quarter. Portfolio Design Labs LLC now owns 56,314 shares of the financial services provider's stock valued at $3,181,000 after purchasing an additional 16,428 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WFC shares. 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. Morgan Stanley cut their price target on Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating on the stock in a research note on Monday, September 30th. Evercore ISI increased their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group cut their price target 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. Finally, Compass Point increased 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 equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of "Hold" and an average price target of $63.07.

Wells Fargo & Company Stock Performance

WFC opened at $75.96 on Monday. The business's 50-day moving average price is $63.28 and its two-hundred day moving average price is $59.80. Wells Fargo & Company has a 1 year low of $42.52 and a 1 year high of $76.08. The company has a market capitalization of $252.91 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.56 and a beta of 1.14. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter last year, the business posted $1.39 EPS. The company's revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company's dividend payout ratio is currently 33.26%.

Insider Activity at Wells Fargo & Company

In related news, EVP Ather Williams III sold 60,000 shares of Wells Fargo & Company 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 sale, the executive vice president now owns 163,610 shares of the company's stock, valued at approximately $10,421,957. The trade was a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction dated 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 sale, the executive vice president now directly owns 126,687 shares in the company, valued at approximately $7,853,327.13. This represents a 21.65 % decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is 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.

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