Wells Fargo & Co (WFC) Shares Bought by Guyasuta Investment Advisors Inc.

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Guyasuta Investment Advisors Inc. raised its stake in Wells Fargo & Co (NYSE:WFC) by 1.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 272,681 shares of the financial services provider’s stock after purchasing an additional 2,972 shares during the period. Wells Fargo & Co comprises 1.7% of Guyasuta Investment Advisors Inc.’s portfolio, making the stock its 23rd largest holding. Guyasuta Investment Advisors Inc.’s holdings in Wells Fargo & Co were worth $15,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Wells Fargo & Co by 5.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 50,957,630 shares of the financial services provider’s stock worth $2,670,689,000 after buying an additional 2,497,659 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Wells Fargo & Co by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 41,213,847 shares of the financial services provider’s stock worth $2,160,018,000 after buying an additional 722,334 shares during the period. Magellan Asset Management Ltd boosted its stake in shares of Wells Fargo & Co by 24.1% during the first quarter. Magellan Asset Management Ltd now owns 31,024,898 shares of the financial services provider’s stock worth $1,626,015,000 after buying an additional 6,017,222 shares during the period. Boston Partners boosted its stake in shares of Wells Fargo & Co by 12.6% during the second quarter. Boston Partners now owns 21,223,020 shares of the financial services provider’s stock worth $1,176,604,000 after buying an additional 2,372,583 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Wells Fargo & Co by 4.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 16,538,282 shares of the financial services provider’s stock worth $866,772,000 after buying an additional 741,837 shares during the period. Institutional investors own 75.76% of the company’s stock.

In other Wells Fargo & Co news, EVP Avid Modjtabai sold 100,000 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $58.71, for a total value of $5,871,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hope A. Hardison sold 25,000 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the transaction, the executive vice president now directly owns 109 shares of the company’s stock, valued at $6,323.09. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

NYSE WFC opened at $58.95 on Thursday. The stock has a market cap of $285.25 billion, a P/E ratio of 14.34, a PEG ratio of 1.58 and a beta of 1.12. Wells Fargo & Co has a 52-week low of $49.27 and a 52-week high of $66.31. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.88 and a quick ratio of 0.86.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, July 13th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.04). The firm had revenue of $21.55 billion for the quarter, compared to analysts’ expectations of $21.52 billion. Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. sell-side analysts predict that Wells Fargo & Co will post 4.56 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Friday, August 10th were issued a dividend of $0.43 per share. This is a boost from Wells Fargo & Co’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.92%. The ex-dividend date was Thursday, August 9th. Wells Fargo & Co’s dividend payout ratio is currently 41.85%.

WFC has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Saturday, July 7th. Morgan Stanley decreased their target price on shares of Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, July 16th. Susquehanna Bancshares set a $63.00 target price on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research note on Friday, July 13th. Finally, Keefe, Bruyette & Woods upgraded shares of Wells Fargo & Co from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $57.00 to $63.00 in a research note on Sunday, July 15th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the stock. Wells Fargo & Co presently has an average rating of “Buy” and an average target price of $63.34.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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