Wells Fargo & Company (NYSE:WFC) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 8.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,033 shares of the financial services provider’s stock after selling 364 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $283,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of 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 shares of Wells Fargo & Company in the second quarter valued at about $26,000. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 1.1 %

NYSE WFC opened at $77.90 on Wednesday. The firm has a 50 day simple moving average of $72.83 and a 200-day simple moving average of $63.60. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a one year low of $47.45 and a one year high of $78.29. The firm has a market cap of $259.36 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate 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 business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Analyst Ratings Changes

WFC has been the subject of a number of recent research reports. Compass Point increased their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Truist Financial raised their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI raised their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.39.

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.