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

Investment Advisory Group LLC lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 46.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm 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.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new position in Wells Fargo & Company in the 3rd quarter valued at about $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 1.1 %

Shares of NYSE:WFC opened at $77.90 on Wednesday. The company has a market capitalization of $259.36 billion, a P/E ratio of 14.48, a P/E/G 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 52-week low of $47.45 and a 52-week high of $78.29. The stock’s fifty day simple moving average is $72.94 and its 200-day simple moving average is $63.72.

Wells Fargo & Company (NYSE:WFC) last posted 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. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WFC shares. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, Evercore ISI upped their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Company Profile

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.