Integrity Wealth Advisors Inc. Takes Position in Wells Fargo & Company (NYSE:WFC)

Integrity Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,123 shares of the financial services provider's stock, valued at approximately $360,000.

A number of other institutional investors have also recently bought and sold shares of WFC. Morse Asset Management Inc bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $487,000. Tudor Financial Inc. acquired a new position in Wells Fargo & Company during the 3rd quarter worth $468,000. Anchor Investment Management LLC increased its stake in shares of Wells Fargo & Company by 5.5% in the 3rd quarter. Anchor Investment Management LLC now owns 15,903 shares of the financial services provider's stock valued at $898,000 after buying an additional 836 shares during the period. World Investment Advisors LLC raised its position in shares of Wells Fargo & Company by 1,263.8% during the third quarter. World Investment Advisors LLC now owns 75,432 shares of the financial services provider's stock worth $4,261,000 after acquiring an additional 69,901 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in Wells Fargo & Company by 4.5% in the third quarter. Tidal Investments LLC now owns 138,813 shares of the financial services provider's stock valued at $7,842,000 after acquiring an additional 5,946 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on WFC shares. Citigroup lowered their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Bank of America cut their target price on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Raymond James cut their price target on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a research report on Monday. Barclays decreased their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. cut their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.34.

Wells Fargo & Company Trading Up 1.0 %

Shares of WFC stock traded up $0.65 during mid-day trading on Friday, reaching $64.63. 18,930,900 shares of the stock traded hands, compared to its average volume of 17,611,591. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market cap of $211.02 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The stock's fifty day simple moving average is $71.53 and its two-hundred day simple moving average is $70.98.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. The business had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 earnings per share. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's payout ratio is currently 28.73%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.