Wells Fargo & Company (NYSE:WFC) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.7% during the fourth quarter, Holdings Channel reports. The fund owned 44,110 shares of the financial services provider’s stock after selling 1,223 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Wells Fargo & Company were worth $3,098,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in Wells Fargo & Company by 55.5% in the second quarter. AQR Capital Management LLC now owns 1,023,779 shares of the financial services provider’s stock valued at $59,901,000 after purchasing an additional 365,600 shares during the period. MBB Public Markets I LLC increased its stake in Wells Fargo & Company by 1,710.7% during the 2nd quarter. MBB Public Markets I LLC now owns 251,868 shares of the financial services provider’s stock worth $14,958,000 after buying an additional 237,958 shares during the period. Mark Asset Management LP lifted its stake in shares of Wells Fargo & Company by 81.0% in the second quarter. Mark Asset Management LP now owns 180,359 shares of the financial services provider’s stock worth $10,712,000 after acquiring an additional 80,697 shares in the last quarter. Lighthouse Investment Partners LLC raised its position in shares of Wells Fargo & Company by 34.1% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 72,708 shares of the financial services provider’s stock valued at $4,318,000 after purchasing an additional 18,508 shares in the last quarter. Finally, Smith Thornton Advisors LLC bought a new position in Wells Fargo & Company during the 2nd quarter valued at $570,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the subject of several research reports. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Evercore ISI boosted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Down 0.3 %

Shares of Wells Fargo & Company stock opened at $77.23 on Friday. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $78.30. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market cap of $257.13 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The business has a fifty day simple moving average of $73.13 and a 200-day simple moving average of $63.92.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal 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.