Livingston Group Asset Management CO operating as Southport Capital Management Has $1.20 Million Position in Wells Fargo & Co (NYSE:WFC)

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Livingston Group Asset Management CO operating as Southport Capital Management lifted its position in shares of Wells Fargo & Co (NYSE:WFC) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,280 shares of the financial services provider’s stock after acquiring an additional 473 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Wells Fargo & Co were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Hanson & Doremus Investment Management increased its stake in shares of Wells Fargo & Co by 222.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 870 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 600 shares during the last quarter. Sciencast Management LP acquired a new stake in Wells Fargo & Co in the fourth quarter valued at about $389,000. Hemenway Trust Co LLC boosted its stake in Wells Fargo & Co by 13.8% in the fourth quarter. Hemenway Trust Co LLC now owns 6,294 shares of the financial services provider’s stock valued at $339,000 after buying an additional 762 shares in the last quarter. AE Wealth Management LLC boosted its stake in Wells Fargo & Co by 17.1% in the fourth quarter. AE Wealth Management LLC now owns 129,941 shares of the financial services provider’s stock valued at $6,991,000 after buying an additional 18,993 shares in the last quarter. Finally, Deane Retirement Strategies Inc. bought a new position in Wells Fargo & Co in the fourth quarter valued at about $1,885,000. 75.64% of the stock is owned by institutional investors.

NYSE WFC traded up $0.81 during trading hours on Thursday, reaching $49.14. The company’s stock had a trading volume of 18,098,499 shares, compared to its average volume of 18,172,232. The firm has a fifty day simple moving average of $53.43 and a 200-day simple moving average of $49.99. The stock has a market cap of $208.51 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.07 and a beta of 1.11. Wells Fargo & Co has a 52 week low of $43.34 and a 52 week high of $54.75. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.87 and a quick ratio of 0.85.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Tuesday, January 14th. The financial services provider reported $0.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.17). Wells Fargo & Co had a return on equity of 12.11% and a net margin of 18.81%. The business had revenue of $19.86 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. The company’s revenue was down 5.4% compared to the same quarter last year. On average, research analysts expect that Wells Fargo & Co will post 4.29 earnings per share for the current year.

Several research analysts have commented on WFC shares. Buckingham Research set a $47.00 target price on Wells Fargo & Co and gave the stock a “hold” rating in a research note on Monday, September 30th. Credit Suisse Group dropped their target price on shares of Wells Fargo & Co from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday. Raymond James downgraded shares of Wells Fargo & Co from a “market perform” rating to an “underperform” rating in a research note on Monday, December 2nd. Odeon Capital Group lowered shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Thursday, December 19th. Finally, Bank of America set a $50.00 price target on shares of Wells Fargo & Co and gave the company a “hold” rating in a report on Monday, September 30th. Eight analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company. Wells Fargo & Co currently has an average rating of “Hold” and an average target price of $49.88.

Wells Fargo & Co Company Profile

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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