Adell Harriman & Carpenter Inc. trimmed its stake in shares of Wells Fargo & Co (NYSE:WFC) by 35.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,427 shares of the financial services provider’s stock after selling 7,784 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Wells Fargo & Co were worth $796,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WFC. Farmers Trust Co. lifted its holdings in Wells Fargo & Co by 5.9% in the second quarter. Farmers Trust Co. now owns 22,992 shares of the financial services provider’s stock valued at $1,274,000 after buying an additional 1,283 shares during the period. Deane Retirement Strategies Inc. acquired a new position in Wells Fargo & Co in the second quarter valued at approximately $1,556,000. America First Investment Advisors LLC lifted its holdings in Wells Fargo & Co by 8.3% in the second quarter. America First Investment Advisors LLC now owns 2,612 shares of the financial services provider’s stock valued at $145,000 after buying an additional 200 shares during the period. Perkins Coie Trust Co lifted its holdings in Wells Fargo & Co by 8.0% in the second quarter. Perkins Coie Trust Co now owns 52,853 shares of the financial services provider’s stock valued at $2,928,000 after buying an additional 3,912 shares during the period. Finally, Country Club Trust Company n.a. lifted its holdings in Wells Fargo & Co by 0.3% in the second quarter. Country Club Trust Company n.a. now owns 16,742 shares of the financial services provider’s stock valued at $927,000 after buying an additional 47 shares during the period. Institutional investors own 75.71% of the company’s stock.

Shares of Wells Fargo & Co (WFC) opened at $62.50 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. Wells Fargo & Co has a 12-month low of $49.27 and a 12-month high of $63.67. The stock has a market cap of $307,990.00, a price-to-earnings ratio of 15.13, a PEG ratio of 1.65 and a beta of 0.96.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.07). Wells Fargo & Co had a return on equity of 12.24% and a net margin of 22.57%. The company had revenue of $22.05 billion for the quarter, compared to the consensus estimate of $22.64 billion. During the same period in the prior year, the company earned $0.96 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. research analysts expect that Wells Fargo & Co will post 4.68 EPS for the current fiscal year.

In other news, insider Michael J. Loughlin sold 17,482 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $56.90, for a total transaction of $3,983,000.00. The disclosure for this sale can be found here. Insiders have sold 184,482 shares of company stock valued at $10,471,050 in the last three months. 0.22% of the stock is owned by insiders.

Several brokerages recently weighed in on WFC. Royal Bank of Canada increased their price objective on shares of Wells Fargo & Co to $65.00 and gave the company an “outperform” rating in a report on Tuesday. BMO Capital Markets reaffirmed a “hold” rating and issued a $59.00 target price on shares of Wells Fargo & Co in a research note on Thursday, January 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & Co in a research note on Tuesday. Atlantic Securities raised shares of Wells Fargo & Co from an “underweight” rating to a “neutral” rating and set a $64.00 target price for the company in a research note on Wednesday, January 10th. Finally, Vining Sparks reaffirmed a “buy” rating and issued a $75.00 target price on shares of Wells Fargo & Co in a research note on Monday, January 8th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $61.10.

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Wells Fargo & Co Profile

Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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