Wells Fargo & Company (NYSE:WFC) Shares Acquired by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 101.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,157 shares of the financial services provider's stock after purchasing an additional 42,910 shares during the quarter. Wells Fargo & Company makes up approximately 2.0% of Alpha DNA Investment Management LLC's holdings, making the stock its biggest holding. Alpha DNA Investment Management LLC's holdings in Wells Fargo & Company were worth $5,058,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP increased its stake in shares of Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider's stock valued at $138,493,000 after buying an additional 2,404,898 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider's stock worth $339,226,000 after buying an additional 2,349,595 shares during the period. Morningstar Investment Services LLC lifted its holdings in Wells Fargo & Company by 103.7% in the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider's stock valued at $189,684,000 after buying an additional 1,951,477 shares during the period. Rokos Capital Management LLP boosted its stake in Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider's stock valued at $151,853,000 after acquiring an additional 1,536,152 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. acquired a new stake in Wells Fargo & Company during the 1st quarter worth $84,819,000. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. Jefferies Financial Group lowered Wells Fargo & Company to a "hold" rating and reduced their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. The Goldman Sachs Group lowered their price target on Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, September 11th. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 target price on the stock in a report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a "market perform" rating for the company in a report 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 company's stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of "Hold" and an average price target of $60.29.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded down $0.55 during midday trading on Wednesday, reaching $53.61. 10,188,528 shares of the company's stock were exchanged, compared to its average volume of 18,108,105. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The stock's 50-day simple moving average is $56.01 and its 200 day simple moving average is $57.86. The firm has a market cap of $186.90 billion, a price-to-earnings ratio of 11.00, 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.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion for the quarter, compared to analysts' expectations of $20.29 billion. During the same quarter in the prior year, the business earned $1.25 EPS. The firm's revenue for the quarter was up .8% on a year-over-year basis. On average, 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 paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.35. Wells Fargo & Company's dividend payout ratio is 32.85%.

Wells Fargo & Company Company Profile

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.