Alpha Windward LLC Increases Stake in Wells Fargo & Company (WFC)

Alpha Windward LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,064 shares of the financial services provider’s stock after buying an additional 281 shares during the period. Alpha Windward LLC’s holdings in Wells Fargo & were worth $391,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Alexandria Capital LLC increased its stake in shares of Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares during the period. Rocky Mountain Advisers LLC increased its stake in shares of Wells Fargo & by 117.6% in the fourth quarter. Rocky Mountain Advisers LLC now owns 1,850 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,000 shares during the period. Brick & Kyle Associates increased its stake in shares of Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after buying an additional 162 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Wells Fargo & during the first quarter valued at about $124,000. Finally, Gradient Investments LLC increased its stake in shares of Wells Fargo & by 58.6% in the first quarter. Gradient Investments LLC now owns 2,494 shares of the financial services provider’s stock valued at $139,000 after buying an additional 921 shares during the period. 76.05% of the stock is currently owned by institutional investors.

Shares of Wells Fargo & Company (WFC) traded down 0.23% during mid-day trading on Friday, reaching $51.68. 17,130,641 shares of the company traded hands. The stock’s 50 day moving average is $54.06 and its 200 day moving average is $54.86. Wells Fargo & Company has a 52-week low of $43.55 and a 52-week high of $59.99. The stock has a market capitalization of $256.54 billion, a PE ratio of 12.73 and a beta of 0.95. Wells Fargo & also saw some unusual options trading activity on Thursday. Stock investors bought 27,464 put options on the stock. This represents an increase of approximately 155% compared to the typical daily volume of 10,758 put options.

Wells Fargo & (NYSE:WFC) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The company had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. During the same quarter in the previous year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post $4.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, August 2nd. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s payout ratio is currently 38.42%.

Wells Fargo & declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $11.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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WFC has been the topic of several recent analyst reports. Vining Sparks raised shares of Wells Fargo & to a “strong-buy” rating and set a $65.00 price objective on the stock in a research note on Thursday, April 27th. Jefferies Group LLC reissued a “hold” rating and set a $62.00 price objective on shares of Wells Fargo & in a research note on Monday, May 8th. Berenberg Bank downgraded shares of Wells Fargo & from a “hold” rating to a “sell” rating and upped their price objective for the company from $35.00 to $45.00 in a research note on Friday, July 21st. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Finally, Vetr lowered shares of Wells Fargo & from a “buy” rating to a “hold” rating and set a $57.21 price target for the company. in a research report on Thursday, May 4th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Wells Fargo & presently has an average rating of “Hold” and an average target price of $55.87.

In related news, insider David M. Carroll sold 27,582 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $53.28, for a total transaction of $1,469,568.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Loughlin sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $52.16, for a total transaction of $1,043,200.00. Following the transaction, the insider now owns 7 shares in the company, valued at approximately $365.12. The disclosure for this sale can be found here. Insiders sold a total of 131,278 shares of company stock worth $6,940,120 in the last 90 days. 0.22% of the stock is owned by corporate insiders.

Wells Fargo & Company Profile

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 & (NYSE:WFC)

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