Garrison Point Advisors LLC decreased its stake in shares of Wells Fargo & Co (NYSE:WFC) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,805 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. Garrison Point Advisors LLC’s holdings in Wells Fargo & Co were worth $904,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA grew its stake in shares of Wells Fargo & Co by 10.0% in the 2nd quarter. Primecap Management Co. CA now owns 50,564,911 shares of the financial services provider’s stock valued at $2,392,732,000 after buying an additional 4,600,225 shares during the period. Boston Partners raised its stake in Wells Fargo & Co by 7.2% during the 3rd quarter. Boston Partners now owns 21,203,872 shares of the financial services provider’s stock worth $1,069,832,000 after buying an additional 1,417,096 shares during the period. Parametric Portfolio Associates LLC raised its stake in Wells Fargo & Co by 6.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 12,370,499 shares of the financial services provider’s stock worth $623,968,000 after buying an additional 796,884 shares during the period. California Public Employees Retirement System raised its stake in Wells Fargo & Co by 25.4% during the 3rd quarter. California Public Employees Retirement System now owns 9,574,833 shares of the financial services provider’s stock worth $482,955,000 after buying an additional 1,936,599 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Wells Fargo & Co by 1.3% in the third quarter. Rhumbline Advisers now owns 6,990,197 shares of the financial services provider’s stock worth $352,586,000 after acquiring an additional 92,770 shares in the last quarter. 75.67% of the stock is owned by institutional investors.

A number of brokerages have commented on WFC. Raymond James cut Wells Fargo & Co from a “market perform” rating to an “underperform” rating in a research note on Monday, December 2nd. Argus raised Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, September 30th. Bank of America set a $50.00 target price on Wells Fargo & Co and gave the stock a “hold” rating in a research report on Monday, September 30th. UBS Group cut their target price on Wells Fargo & Co from $52.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Royal Bank of Canada downgraded shares of Wells Fargo & Co from a “sector perform” rating to an “underperform” rating and reduced their price target for the company from $48.00 to $42.00 in a research report on Thursday, January 16th. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the company’s stock. Wells Fargo & Co presently has an average rating of “Hold” and a consensus target price of $49.88.

Wells Fargo & Co stock traded down $0.82 during trading on Friday, hitting $47.40. 16,202,682 shares of the company were exchanged, compared to its average volume of 20,145,394. The company has a market capitalization of $205.38 billion, a P/E ratio of 11.79, a PEG ratio of 1.10 and a beta of 1.11. The business’s 50 day moving average is $52.63 and its 200 day moving average is $50.05. Wells Fargo & Co has a 52 week low of $43.34 and a 52 week high of $54.75. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.17). The company had revenue of $19.86 billion for the quarter, compared to the consensus estimate of $20.11 billion. Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. Wells Fargo & Co’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.21 earnings per share. Equities analysts expect that Wells Fargo & Co will post 4.12 EPS for the current year.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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