By otakuyassine3@gmail.com 
Matrix Asset Advisors Inc. NY lowered its position in shares of Wells Fargo & Company (NYSE:WFC – Free Report) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,756 shares of the financial services provider’s stock after selling 10,679 shares during the quarter. Wells Fargo & Company comprises 1.7% of Matrix Asset Advisors Inc. NY’s portfolio, making the stock its 25th largest position. Matrix Asset Advisors Inc. NY’s holdings in Wells Fargo & Company were worth $15,927,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of WFC. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company during the second quarter valued at $26,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the third quarter valued at $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter worth about $32,000. Institutional investors own 75.90% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on WFC shares. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Piper Sandler boosted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.39.
Read Our Latest Report on Wells Fargo & Company
Wells Fargo & Company Stock Up 0.8 %
WFC stock opened at $77.90 on Tuesday. The firm has a market cap of $259.37 billion, a PE ratio of 14.48, a P/E/G ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month 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 has a 50 day simple moving average of $73.19 and a 200 day simple moving average of $64.10.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during 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 company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.
Wells Fargo & Company 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.
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