Jeppson Wealth Management LLC Decreases Holdings in Wells Fargo & Company (NYSE:WFC)

Jeppson Wealth Management LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% during the fourth quarter, HoldingsChannel reports. The firm owned 25,515 shares of the financial services provider’s stock after selling 625 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

WFC has been the topic of several research reports. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” 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 target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. 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 research report on Tuesday, November 19th. Finally, UBS Group lifted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Price Performance

WFC stock opened at $77.90 on Tuesday. The firm has a 50 day simple moving average of $73.19 and a two-hundred day simple moving average of $64.10. The stock has a market cap of $259.37 billion, a PE ratio of 14.48, a P/E/G ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a one year low of $47.45 and a one year high of $78.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

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 the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. On average, analysts predict that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & 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.