Blue Chip Partners Inc. Buys 2,482 Shares of Wells Fargo & Co (WFC)

Blue Chip Partners Inc. raised its stake in shares of Wells Fargo & Co (NYSE:WFC) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 97,101 shares of the financial services provider’s stock after purchasing an additional 2,482 shares during the period. Wells Fargo & Co accounts for about 1.7% of Blue Chip Partners Inc.’s investment portfolio, making the stock its 17th biggest holding. Blue Chip Partners Inc.’s holdings in Wells Fargo & Co were worth $5,355,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Stelac Advisory Services LLC bought a new position in shares of Wells Fargo & Co in the second quarter worth about $104,000. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Wells Fargo & Co by 0.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 6 shares during the period. Clear Investment Research LLC bought a new position in shares of Wells Fargo & Co in the second quarter worth about $121,000. Westside Investment Management Inc. boosted its stake in shares of Wells Fargo & Co by 63.9% in the second quarter. Westside Investment Management Inc. now owns 2,286 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 891 shares during the period. Finally, BDO Wealth Advisors LLC bought a new position in shares of Wells Fargo & Co in the second quarter worth about $151,000. 75.71% of the stock is owned by institutional investors and hedge funds.

In other Wells Fargo & Co news, insider John R. Shrewsberry sold 70,000 shares of the company’s 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 SEC, which can be accessed through the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $57.80, for a total value of $1,010,459.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,482 shares of company stock worth $10,471,050. Company insiders own 0.22% of the company’s stock.

Shares of Wells Fargo & Co (NYSE WFC) opened at $64.22 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.90 and a quick ratio of 0.88. The company has a market capitalization of $316,470.00, a PE ratio of 15.55, a P/E/G ratio of 1.68 and a beta of 0.96. Wells Fargo & Co has a 52-week low of $49.27 and a 52-week high of $64.31.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The company had revenue of $22.05 billion for the quarter, compared to analysts’ expectations of $22.64 billion. During the same quarter last year, the company earned $0.96 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. analysts anticipate that Wells Fargo & Co will post 4.7 EPS for the current fiscal year.

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & Co in a research note on Tuesday. Royal Bank of Canada upped their price objective on Wells Fargo & Co to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday. Atlantic Securities raised Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 price objective for the company in a research note on Wednesday, January 10th. Sandler O’Neill raised Wells Fargo & Co from a “hold” rating to a “buy” rating and upped their price objective for the stock from $62.04 to $73.00 in a research note on Tuesday, January 9th. Finally, Vetr lowered Wells Fargo & Co from a “strong-buy” rating to a “sell” rating and set a $55.47 price objective for the company. in a research note on Monday, January 8th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $61.71.

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Wells Fargo & Co 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 & Co (NYSE:WFC)

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