Capital Asset Advisory Services LLC Has $3.21 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Capital Asset Advisory Services LLC cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,005 shares of the financial services provider’s stock after selling 2,844 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Wells Fargo & Company were worth $3,209,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC lifted its stake in 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 worth $51,000 after purchasing an additional 305 shares during the period. Kathmere Capital Management LLC lifted its stake in Wells Fargo & Company by 7.5% during the second quarter. Kathmere Capital Management LLC now owns 8,508 shares of the financial services provider’s stock worth $505,000 after purchasing an additional 592 shares during the period. Ascent Group LLC lifted its stake in Wells Fargo & Company by 9.4% during the second quarter. Ascent Group LLC now owns 38,934 shares of the financial services provider’s stock worth $2,312,000 after purchasing an additional 3,347 shares during the period. Annandale Capital LLC lifted its stake in Wells Fargo & Company by 1.2% during the second quarter. Annandale Capital LLC now owns 19,142 shares of the financial services provider’s stock worth $1,137,000 after purchasing an additional 234 shares during the period. Finally, Aviso Wealth Management lifted its stake in Wells Fargo & Company by 4.3% during the second quarter. Aviso Wealth Management now owns 11,227 shares of the financial services provider’s stock worth $667,000 after purchasing an additional 459 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. UBS Group lifted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, Citigroup lifted their target price 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. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

WFC opened at $77.23 on Monday. The company has a fifty day moving average price of $73.19 and a two-hundred day moving average price of $64.07. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $78.30. The firm has a market capitalization of $257.13 billion, a PE ratio of 14.35, a P/E/G ratio of 1.17 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, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. 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 business earned $0.86 EPS. The firm’s revenue was down .5% on a year-over-year basis. As a group, analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Profile

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.