Carnegie Capital Asset Management LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 17.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,481 shares of the financial services provider’s stock after selling 9,843 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Wells Fargo & Company were worth $2,443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC raised its position in Wells Fargo & Company by 0.3% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after buying an additional 6 shares during the period. Winch Advisory Services LLC raised its position in Wells Fargo & Company by 0.7% during the second quarter. Winch Advisory Services LLC now owns 2,776 shares of the financial services provider’s stock valued at $154,000 after buying an additional 20 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in Wells Fargo & Company by 0.5% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 4,928 shares of the financial services provider’s stock valued at $274,000 after buying an additional 24 shares during the period. Financial Advisory Group raised its position in Wells Fargo & Company by 0.7% during the second quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock valued at $279,000 after buying an additional 35 shares during the period. Finally, Keystone Financial Planning Inc. grew its stake in Wells Fargo & Company by 0.6% in the first quarter. Keystone Financial Planning Inc. now owns 6,755 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 39 shares in the last quarter. 75.77% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Levy sold 97,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,482 shares of company stock valued at $10,471,050. 0.22% of the stock is currently owned by corporate insiders.

A number of research analysts have commented on the company. Vetr upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating and set a $54.49 target price on the stock in a research note on Tuesday, October 24th. Vertical Group upgraded Wells Fargo & Company from a “sell” rating to a “buy” rating in a research note on Thursday. Piper Jaffray Companies restated a “neutral” rating and issued a $50.00 target price (down previously from $52.00) on shares of Wells Fargo & Company in a research note on Wednesday, September 13th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $59.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 16th. Finally, UBS restated a “neutral” rating and issued a $56.00 target price (down previously from $59.00) on shares of Wells Fargo & Company in a research note on Friday, September 15th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $57.25.

Wells Fargo & Company (NYSE:WFC) traded down $0.05 on Friday, hitting $59.31. The stock had a trading volume of 21,749,452 shares, compared to its average volume of 20,635,358. The company has a market cap of $292,057.94, a P/E ratio of 14.33, a PEG ratio of 1.43 and a beta of 0.96. Wells Fargo & Company has a 52 week low of $49.27 and a 52 week high of $60.00. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 EPS. research analysts predict that Wells Fargo & Company will post 3.97 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.63%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 40.31%.

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About Wells Fargo & Company

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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

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