Sigma Planning Corp Has $1.43 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Sigma Planning Corp reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 57.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,133 shares of the financial services provider’s stock after selling 39,167 shares during the period. Sigma Planning Corp’s holdings in Wells Fargo & Company were worth $1,434,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WFC. Gradient Capital Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $208,000. Signaturefd LLC increased its holdings in shares of Wells Fargo & Company by 13.9% during the fourth quarter. Signaturefd LLC now owns 48,810 shares of the financial services provider’s stock worth $2,402,000 after buying an additional 5,950 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Wells Fargo & Company by 3.0% during the fourth quarter. Lindbrook Capital LLC now owns 20,503 shares of the financial services provider’s stock worth $1,009,000 after buying an additional 592 shares in the last quarter. Calamos Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 28.5% during the fourth quarter. Calamos Wealth Management LLC now owns 249,721 shares of the financial services provider’s stock worth $12,291,000 after buying an additional 55,352 shares in the last quarter. Finally, abrdn plc increased its holdings in shares of Wells Fargo & Company by 72.7% during the fourth quarter. abrdn plc now owns 1,573,036 shares of the financial services provider’s stock worth $77,425,000 after buying an additional 661,936 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 1.3 %

Shares of Wells Fargo & Company stock opened at $61.12 on Tuesday. The stock has a fifty day simple moving average of $56.12 and a 200 day simple moving average of $49.12. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.49. The company has a market capitalization of $216.39 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WFC shares. Argus upped their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Piper Sandler lowered their price target on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a research note on Monday, January 8th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.