Wells Fargo & Company (NYSE:WFC) Shares Sold by Investment Advisory Group LLC

Investment Advisory Group LLC trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 46.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,206 shares of the financial services provider’s stock after selling 2,770 shares during the quarter. Investment Advisory Group LLC’s holdings in Wells Fargo & Company were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WFC. Global Trust Asset Management LLC lifted its position in Wells Fargo & Company by 2.2% in the fourth quarter. Global Trust Asset Management LLC now owns 9,953 shares of the financial services provider’s stock worth $699,000 after purchasing an additional 217 shares during the period. Advisory Alpha LLC boosted its position in shares of Wells Fargo & Company by 6.9% during the 4th quarter. Advisory Alpha LLC now owns 6,273 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 405 shares in the last quarter. West Branch Capital LLC grew its stake in shares of Wells Fargo & Company by 53.3% in the 4th quarter. West Branch Capital LLC now owns 17,187 shares of the financial services provider’s stock worth $1,207,000 after purchasing an additional 5,979 shares during the last quarter. Braun Bostich & Associates Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $246,000. Finally, Nisa Investment Advisors LLC lifted its stake in Wells Fargo & Company by 5.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 905,758 shares of the financial services provider’s stock valued at $63,620,000 after purchasing an additional 44,147 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of several analyst reports. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 1.1 %

Shares of WFC stock opened at $77.90 on Wednesday. The company has a market capitalization of $259.36 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.29. The firm has a 50 day moving average price of $72.94 and a two-hundred day moving average price of $63.72.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s revenue was down .5% compared to the same quarter last year. As a group, analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.