Traphagen Investment Advisors LLC Sells 532 Shares of Wells Fargo & Company (NYSE:WFC)

Traphagen Investment Advisors LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 8.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,910 shares of the financial services provider’s stock after selling 532 shares during the quarter. Traphagen Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WFC. Edgestream Partners L.P. bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth about $272,000. Evergreen Capital Management LLC boosted its holdings in Wells Fargo & Company by 7.8% in the second quarter. Evergreen Capital Management LLC now owns 29,378 shares of the financial services provider’s stock worth $1,745,000 after acquiring an additional 2,138 shares in the last quarter. Marshall Wace LLP grew its stake in Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after acquiring an additional 2,404,898 shares during the period. Mill Creek Capital Advisors LLC bought a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $227,000. Finally, Semmax Financial Advisors Inc. raised its position in shares of Wells Fargo & Company by 5.6% during the second quarter. Semmax Financial Advisors Inc. now owns 82,660 shares of the financial services provider’s stock worth $4,909,000 after purchasing an additional 4,416 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group upped their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $77.90 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a fifty day simple moving average of $72.83 and a two-hundred day simple moving average of $63.60. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $78.29. The firm has a market cap of $259.36 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. 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.