Wells Fargo & Co (NYSE:WFC) Shares Sold by Breiter Capital Management Inc.

Breiter Capital Management Inc. lowered its stake in Wells Fargo & Co (NYSE:WFC) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,457 shares of the financial services provider’s stock after selling 614 shares during the quarter. Breiter Capital Management Inc.’s holdings in Wells Fargo & Co were worth $455,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Horan Capital Advisors LLC. acquired a new stake in Wells Fargo & Co in the third quarter worth about $25,000. NuWave Investment Management LLC lifted its holdings in Wells Fargo & Co by 122.3% in the third quarter. NuWave Investment Management LLC now owns 798 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 439 shares during the period. MV Capital Management Inc. lifted its holdings in Wells Fargo & Co by 49.3% in the third quarter. MV Capital Management Inc. now owns 803 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 265 shares during the period. Venturi Wealth Management LLC acquired a new stake in Wells Fargo & Co in the third quarter worth about $42,000. Finally, Hanson & Doremus Investment Management lifted its holdings in Wells Fargo & Co by 222.2% in the fourth quarter. Hanson & Doremus Investment Management now owns 870 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 600 shares during the period. 75.67% of the stock is owned by institutional investors and hedge funds.

Shares of Wells Fargo & Co stock opened at $48.22 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The company’s 50-day moving average price is $52.63 and its two-hundred day moving average price is $50.05. Wells Fargo & Co has a 52 week low of $43.34 and a 52 week high of $54.75. The stock has a market cap of $206.98 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Tuesday, January 14th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.17). Wells Fargo & Co had a return on equity of 12.11% and a net margin of 18.81%. The business had revenue of $19.86 billion during the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter last year, the firm posted $1.21 earnings per share. Wells Fargo & Co’s revenue was down 5.4% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Co will post 4.12 EPS for the current fiscal year.

WFC has been the subject of several research analyst reports. Piper Sandler downgraded shares of Wells Fargo & Co from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $60.00 to $52.00 in a report on Wednesday, January 15th. Buckingham Research set a $47.00 price objective on shares of Wells Fargo & Co and gave the stock a “hold” rating in a report on Monday, September 30th. Raymond James downgraded shares of Wells Fargo & Co from a “market perform” rating to an “underperform” rating in a report on Monday, December 2nd. Morgan Stanley reduced their price objective on shares of Wells Fargo & Co from $56.00 to $51.00 and set an “equal weight” rating for the company in a report on Wednesday, January 15th. Finally, Barclays downgraded shares of Wells Fargo & Co from an “overweight” rating to an “equal weight” rating and set a $59.00 price objective for the company. in a report on Monday, January 6th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the stock. Wells Fargo & Co currently has an average rating of “Hold” and an average target price of $49.88.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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