Atticus Wealth Management LLC Sells 416 Shares of Wells Fargo & Company (NYSE:WFC)

Atticus Wealth Management LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 28.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 54.5% during the second quarter. Beaird Harris Wealth Management LLC now owns 865 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 305 shares in the last quarter. Kathmere Capital Management LLC boosted its position in Wells Fargo & Company by 7.5% during the 2nd quarter. Kathmere Capital Management LLC now owns 8,508 shares of the financial services provider’s stock valued at $505,000 after acquiring an additional 592 shares in the last quarter. Ascent Group LLC raised its position in shares of Wells Fargo & Company by 9.4% in the 2nd quarter. Ascent Group LLC now owns 38,934 shares of the financial services provider’s stock worth $2,312,000 after acquiring an additional 3,347 shares in the last quarter. Annandale Capital LLC grew its stake in Wells Fargo & Company by 1.2% in the second quarter. Annandale Capital LLC now owns 19,142 shares of the financial services provider’s stock valued at $1,137,000 after purchasing an additional 234 shares during the last quarter. Finally, Aviso Wealth Management boosted its holdings in shares of Wells Fargo & Company by 4.3% in the 2nd quarter. Aviso Wealth Management now owns 11,227 shares of the financial services provider’s stock valued at $667,000 after buying an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.3 %

Shares of NYSE:WFC opened at $77.23 on Monday. The firm has a market capitalization of $257.13 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $47.45 and a 1 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. The firm’s 50-day moving average is $73.19 and its two-hundred day moving average is $64.07.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the firm posted $0.86 EPS. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Analyst Ratings Changes

WFC has been the subject of several analyst reports. Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Barclays upped their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup upped 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 note on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of 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. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has an average 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.