Wells Fargo & Company (NYSE:WFC) Shares Sold by Atticus Wealth Management LLC

Atticus Wealth Management LLC cut its stake in Wells Fargo & Company (NYSE:WFC) by 28.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,050 shares of the financial services provider’s stock after selling 416 shares during the quarter. Atticus Wealth Management LLC’s holdings in Wells Fargo & Company were worth $74,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. KBC Group NV grew its position in shares of Wells Fargo & Company by 63.1% during the fourth quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider’s stock worth $137,832,000 after acquiring an additional 758,893 shares during the last quarter. Drive Wealth Management LLC boosted its stake in Wells Fargo & Company by 3.4% during the 4th quarter. Drive Wealth Management LLC now owns 24,972 shares of the financial services provider’s stock worth $1,754,000 after purchasing an additional 823 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in Wells Fargo & Company during the 4th quarter worth $35,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Wells Fargo & Company by 5.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 22,758 shares of the financial services provider’s stock valued at $1,599,000 after purchasing an additional 1,253 shares during the period. Finally, SWP Financial LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $253,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.3 %

NYSE WFC opened at $77.23 on Monday. The company has a 50-day moving average of $73.19 and a 200-day moving average of $64.07. 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 has a 12 month low of $47.45 and a 12 month high of $78.30. The company has a market cap of $257.13 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18.

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 for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion for 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%. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share. As a group, equities analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wall Street Analyst Weigh In

WFC has been the topic of several recent research reports. Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Evercore ISI upped their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Morgan Stanley increased their price target 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. Finally, Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average 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.