Duncan Williams Asset Management LLC Sells 267 Shares of Wells Fargo & Company (NYSE:WFC)

Duncan Williams Asset Management LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,714 shares of the financial services provider’s stock after selling 267 shares during the period. Duncan Williams Asset Management LLC’s holdings in Wells Fargo & Company were worth $401,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Juncture Wealth Strategies LLC bought a new position in Wells Fargo & Company during the fourth quarter valued at approximately $256,000. B.O.S.S. Retirement Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 473.5% during the 4th quarter. B.O.S.S. Retirement Advisors LLC now owns 45,877 shares of the financial services provider’s stock valued at $3,222,000 after buying an additional 37,877 shares during the period. Grimes & Company Inc. boosted its stake in shares of Wells Fargo & Company by 2.2% in the 4th quarter. Grimes & Company Inc. now owns 32,378 shares of the financial services provider’s stock worth $2,274,000 after buying an additional 700 shares during the last quarter. Eclectic Associates Inc. ADV grew its holdings in shares of Wells Fargo & Company by 2.3% in the fourth quarter. Eclectic Associates Inc. ADV now owns 15,801 shares of the financial services provider’s stock worth $1,110,000 after acquiring an additional 349 shares during the period. Finally, CX Institutional increased its position in Wells Fargo & Company by 6.4% during the fourth quarter. CX Institutional now owns 20,433 shares of the financial services provider’s stock valued at $1,435,000 after acquiring an additional 1,222 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Piper Sandler upped their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

NYSE WFC opened at $77.23 on Friday. The firm’s fifty day simple moving average is $73.19 and its two-hundred day simple moving average is $64.04. The firm has a market capitalization of $257.13 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.30.

Wells Fargo & Company (NYSE:WFC) last announced its 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. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. Analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

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.