Wells Fargo & Company (NYSE:WFC) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,785 shares of the financial services provider’s stock after selling 136 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $898,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company in the second quarter valued at about $26,000. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth about $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC opened at $77.49 on Friday. 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 stock has a fifty day moving average price of $73.03 and a 200 day moving average price of $63.82. The company has a market cap of $258.00 billion, a P/E ratio of 14.40, a PEG ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. On average, research analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on WFC shares. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup lifted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the stock 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. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price 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.