Altavista Wealth Management Inc. Boosts Stock Position in Wells Fargo & Co (NYSE:WFC)

Altavista Wealth Management Inc. raised its stake in Wells Fargo & Co (NYSE:WFC) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,871 shares of the financial services provider’s stock after purchasing an additional 268 shares during the period. Altavista Wealth Management Inc.’s holdings in Wells Fargo & Co were worth $801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Evolution Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Co during the second quarter worth about $25,000. Horan Capital Advisors LLC. purchased a new stake in shares of Wells Fargo & Co during the third quarter worth about $25,000. Next Capital Management LLC purchased a new stake in shares of Wells Fargo & Co during the second quarter worth about $32,000. NuWave Investment Management LLC grew its stake in shares of Wells Fargo & Co by 122.3% during the third quarter. NuWave Investment Management LLC now owns 798 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 439 shares during the last quarter. Finally, Global Trust Asset Management LLC grew its stake in shares of Wells Fargo & Co by 643.0% during the second quarter. Global Trust Asset Management LLC now owns 5,506 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 4,765 shares during the last quarter. Institutional investors own 75.13% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Macquarie lowered Wells Fargo & Co from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $54.00 to $47.00 in a research note on Wednesday, July 17th. Piper Jaffray Companies set a $46.00 price target on Wells Fargo & Co and gave the stock a “hold” rating in a research note on Monday, September 9th. Robert W. Baird lowered Wells Fargo & Co from an “outperform” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research note on Monday, September 30th. Bank of America set a $50.00 price target on Wells Fargo & Co and gave the stock a “hold” rating in a research note on Monday, September 30th. Finally, Argus upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, September 30th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $49.75.

Wells Fargo & Co stock opened at $54.05 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.33. Wells Fargo & Co has a 52 week low of $43.02 and a 52 week high of $55.04. The company has a market capitalization of $225.42 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11. The stock has a 50-day moving average price of $50.61 and a 200 day moving average price of $47.67.

Wells Fargo & Co (NYSE:WFC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.92 EPS for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.23). Wells Fargo & Co had a return on equity of 13.01% and a net margin of 21.67%. The firm had revenue of $22.01 billion for the quarter, compared to analyst estimates of $21.32 billion. During the same period last year, the firm earned $1.13 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Co will post 4.5 EPS for the current fiscal year.

Wells Fargo & Co declared that its Board of Directors has initiated a share buyback plan on Tuesday, July 23rd that authorizes the company to repurchase 350,000,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Thursday, November 7th. Wells Fargo & Co’s dividend payout ratio (DPR) is 46.58%.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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