Abbrea Capital LLC Has $710,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Abbrea Capital LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,418 shares of the financial services provider’s stock after selling 923 shares during the period. Abbrea Capital LLC’s holdings in Wells Fargo & Company were worth $710,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth approximately $25,000. Arlington Trust Co LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WFC shares. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Compass Point reissued a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Jefferies Financial Group upped their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Robert W. Baird restated a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a research report on Monday, January 8th. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Trading Down 1.1 %

Shares of WFC stock traded down $0.67 on Thursday, hitting $59.93. The stock had a trading volume of 23,983,406 shares, compared to its average volume of 19,119,238. The firm has a market cap of $212.18 billion, a P/E ratio of 12.50, a PEG ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $61.76. The company has a fifty day moving average price of $56.61 and a two-hundred day moving average price of $49.34. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. As a group, analysts forecast that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.