A. D. Beadell Investment Counsel Inc. lessened its position in shares of Wells Fargo & Co (NYSE:WFC) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,875 shares of the financial services provider’s stock after selling 2,400 shares during the quarter. Wells Fargo & Co comprises 1.6% of A. D. Beadell Investment Counsel Inc.’s holdings, making the stock its 20th biggest position. A. D. Beadell Investment Counsel Inc.’s holdings in Wells Fargo & Co were worth $1,868,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in WFC. Highstreet Asset Management Inc. boosted its holdings in shares of Wells Fargo & Co by 100.0% in the 3rd quarter. Highstreet Asset Management Inc. now owns 16,824 shares of the financial services provider’s stock valued at $928,000 after acquiring an additional 8,410 shares during the last quarter. Parsec Financial Management Inc. raised its position in Wells Fargo & Co by 15.9% during the third quarter. Parsec Financial Management Inc. now owns 106,440 shares of the financial services provider’s stock worth $5,870,000 after acquiring an additional 14,634 shares during the period. Hayek Kallen Investment Management raised its position in Wells Fargo & Co by 36.5% during the third quarter. Hayek Kallen Investment Management now owns 11,602 shares of the financial services provider’s stock worth $640,000 after acquiring an additional 3,100 shares during the period. North Star Asset Management Inc. raised its position in Wells Fargo & Co by 24.5% during the third quarter. North Star Asset Management Inc. now owns 27,309 shares of the financial services provider’s stock worth $1,520,000 after acquiring an additional 5,366 shares during the period. Finally, Aperio Group LLC raised its position in Wells Fargo & Co by 3.1% during the third quarter. Aperio Group LLC now owns 1,720,339 shares of the financial services provider’s stock worth $94,877,000 after acquiring an additional 51,426 shares during the period. 75.70% of the stock is currently owned by institutional investors.

In related news, insider John R. Shrewsberry sold 70,000 shares of Wells Fargo & Co stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Loughlin sold 17,482 shares of Wells Fargo & Co stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. Insiders sold 184,482 shares of company stock valued at $10,471,050 in the last quarter. 0.22% of the stock is owned by insiders.

Wells Fargo & Co (NYSE:WFC) opened at $60.95 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month high of $62.24. The company has a market cap of $303,088.25, a P/E ratio of 15.75, a PEG ratio of 1.90 and a beta of 0.96.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). Wells Fargo & Co had a net margin of 22.00% and a return on equity of 12.59%. The business had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. During the same period in the previous year, the business posted $1.03 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. sell-side analysts expect that Wells Fargo & Co will post 3.99 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Co’s payout ratio is 40.31%.

A number of equities analysts have weighed in on the stock. Goldman Sachs Group restated a “buy” rating on shares of Wells Fargo & Co in a research report on Wednesday, October 11th. Vetr upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.49 target price for the company in a research report on Tuesday, October 24th. Vertical Group started coverage on shares of Wells Fargo & Co in a research report on Friday, October 6th. They issued a “sell” rating for the company. Credit Suisse Group reiterated a “hold” rating and issued a $57.00 target price on shares of Wells Fargo & Co in a research report on Tuesday, October 10th. Finally, UBS Group set a $55.00 target price on shares of Wells Fargo & Co and gave the company a “hold” rating in a research report on Monday, October 16th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Wells Fargo & Co has a consensus rating of “Hold” and a consensus price target of $57.75.

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About Wells Fargo & Co

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.

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

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