Wells Fargo & Company (NYSE:WFC) Shares Sold by Abbrea Capital LLC

Abbrea Capital LLC lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,418 shares of the financial services provider’s stock after selling 923 shares during the period. Abbrea Capital LLC’s holdings in Wells Fargo & Company were worth $710,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Summit Global Investments increased its holdings in shares of Wells Fargo & Company by 6.3% during the 3rd quarter. Summit Global Investments now owns 5,753 shares of the financial services provider’s stock worth $235,000 after buying an additional 343 shares during the last quarter. Impact Partnership Wealth LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter worth about $34,000. Exchange Traded Concepts LLC grew its stake in Wells Fargo & Company by 12.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the financial services provider’s stock worth $153,000 after buying an additional 424 shares during the last quarter. Boston Trust Walden Corp grew its stake in Wells Fargo & Company by 7.4% during the 3rd quarter. Boston Trust Walden Corp now owns 14,515 shares of the financial services provider’s stock worth $593,000 after buying an additional 1,000 shares during the last quarter. Finally, Washington Trust Advisors Inc. grew its stake in shares of Wells Fargo & Company by 48.4% in the third quarter. Washington Trust Advisors Inc. now owns 7,050 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of several analyst reports. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a report on Monday, January 8th. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Jefferies Financial Group boosted their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, Citigroup restated a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Trading Down 1.1 %

Shares of WFC stock traded down $0.67 during trading hours on Thursday, reaching $59.93. The company had a trading volume of 23,983,406 shares, compared to its average volume of 19,119,238. The firm has a market cap of $212.18 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $61.76. The company has a 50 day moving average of $56.61 and a 200 day moving average of $49.34. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the firm earned $1.23 EPS. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current year.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.