Axxcess Wealth Management LLC Has $4.21 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Axxcess Wealth Management LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 10.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,567 shares of the financial services provider’s stock after acquiring an additional 7,114 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Wells Fargo & Company were worth $4,206,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $25,000. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $29,000. Transcendent Capital Group LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $0.69 on Friday, hitting $60.39. The company’s stock had a trading volume of 12,533,735 shares, compared to its average volume of 18,276,768. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The firm has a market cap of $210.54 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The company has a fifty day moving average price of $59.16 and a 200-day moving average price of $56.41.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is presently 28.75%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WFC. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Argus increased their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. HSBC lifted their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Evercore ISI reissued an “outperform” rating and set a $67.00 target price (down from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. Finally, Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.31.

About Wells Fargo & Company

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.