WELLS FARGO & COMPANY/MN recently filed their 13F report for the second quarter of 2022, which ended on 2022-06-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Wells Fargo & Company was founded in 1852 by Henry Wells and William Fargo. The company dealt with currency at its onset, offering banking for god and paper drafts and the express delivery of valuables. Its business was always done through the fastest means possible, meaning it evolved with the times to go from stagecoach to railroad to telegraph. By 1910, its network spanned 6000 locations and, by 1918, it would link over 10,000 communities across the country. The bank portion of the company separated in 1905, expanding from one single office in San Francisco to become a northern California regional bank by the 1960s. By the 1990s, Wells Fargo would have expanded to cover many locations all over the country. The current Wells Fargo was created in a merger between the Norwest Corporation and the Original Wells Fargo in 1998. Although the acquisition belonged to Norwest, the company would keep the Wells Fargo name and San Francisco headquarters in order to utilize their nationally recognized history. In 2008, the bank would acquire Wachovia, one of the many companies in its series of acquisitions from 2007 to 2012, for $14.8 billion, beating out Citigroup’s offer of $2.1 billion. Today Wells Fargo & Company acts as a holding company, acting as the fourth largest bank in the United States on the basis of assets. In 2007 it managed to acquire the coveted AAA rating by S&P, becoming the only bank in the United States to do so. Wells Fargo operates under three segments: Community Banking, Wholesale Banking, and Wealth, Brokerage and Retirement. It currently has total assets of $1.7 trillion and is one of the “Big Four” in banking. Some of its most notable ETFs include the SPDR Wells Fargo Preferred and Financial Select Sector SPDR, and some of its notable mutual funds include Diversified International, Specialized Technology, and Money Market funds.
As of the latest 13F report, the guru’s equity portfolio contained 7543 stocks valued at a total of $322.24Bil. The top holdings were MSFT(3.06%), AAPL(2.75%), and SPY(2.03%).
According to GuruFocus data, these were WELLS FARGO & COMPANY/MN’s top five trades of the quarter.
S&P 500 ETF TRUST ETF
During the quarter, WELLS FARGO & COMPANY/MN bought 6,017,412 shares of ARCA:SPY for a total holding of 17,309,165. The trade had a 0.71% impact on the equity portfolio. During the quarter, the stock traded for an average price of $408.8.
On 08/14/2022, S&P 500 ETF TRUST ETF traded for a price of $427.1 per share and a market cap of $392.88Bil. The stock has returned -2.68% over the past year.
GuruFocus gives the ETF a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, S&P 500 ETF TRUST ETF has a price-earnings ratio of 20.20, a price-book ratio of 3.85, a price-earnings-to-growth (PEG) ratio of 2.44, a EV-to-Ebitda ratio of 15.19 and a price-sales ratio of 3.01.
The price-to-GF Value ratio is 0.00, earning the stock a GF Value rank of 6.
Apple Inc
WELLS FARGO & COMPANY/MN reduced their investment in NAS:AAPL by 6,621,274 shares. The trade had a 0.3% impact on the equity portfolio. During the quarter, the stock traded for an average price of $151.81.
On 08/14/2022, Apple Inc traded for a price of $172.1 per share and a market cap of $2,765.78Bil. The stock has returned 16.19% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Apple Inc has a price-earnings ratio of 28.40, a price-book ratio of 47.67, a price-earnings-to-growth (PEG) ratio of 2.00, a EV-to-Ebitda ratio of 21.54 and a price-sales ratio of 7.31.
The price-to-GF Value ratio is 1.02, earning the stock a GF Value rank of 6.
Microsoft Corp
WELLS FARGO & COMPANY/MN reduced their investment in NAS:MSFT by 3,236,385 shares. The trade had a 0.26% impact on the equity portfolio. During the quarter, the stock traded for an average price of $271.99.
On 08/14/2022, Microsoft Corp traded for a price of $291.91 per share and a market cap of $2,177.03Bil. The stock has returned 1.56% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Microsoft Corp has a price-earnings ratio of 30.28, a price-book ratio of 13.08, a price-earnings-to-growth (PEG) ratio of 1.47, a EV-to-Ebitda ratio of 21.28 and a price-sales ratio of 11.10.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 6.
Danaher Corp
During the quarter, WELLS FARGO & COMPANY/MN bought 2,672,405 shares of NYSE:DHR for a total holding of 2,674,927. The trade had a 0.21% impact on the equity portfolio. During the quarter, the stock traded for an average price of $260.33.
On 08/14/2022, Danaher Corp traded for a price of $297.75 per share and a market cap of $216.60Bil. The stock has returned -4.81% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Danaher Corp has a price-earnings ratio of 35.07, a price-book ratio of 4.82, a price-earnings-to-growth (PEG) ratio of 1.86, a EV-to-Ebitda ratio of 23.15 and a price-sales ratio of 7.10.
The price-to-GF Value ratio is 0.97, earning the stock a GF Value rank of 6.
Financial Select Sector SPDR
WELLS FARGO & COMPANY/MN reduced their investment in ARCA:XLF by 18,727,196 shares. The trade had a 0.18% impact on the equity portfolio. During the quarter, the stock traded for an average price of $34.46.
On 08/14/2022, Financial Select Sector SPDR traded for a price of $35.56 per share and a market cap of $32.07Bil. The stock has returned -6.81% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, Financial Select Sector SPDR has a price-book ratio of 1.47.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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