New England Research & Management Inc. Sells 1,260 Shares of Wells Fargo & Co (NYSE:WFC)

New England Research & Management Inc. lowered its stake in shares of Wells Fargo & Co (NYSE:WFC) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,290 shares of the financial services provider’s stock after selling 1,260 shares during the period. New England Research & Management Inc.’s holdings in Wells Fargo & Co were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. raised its position in shares of Wells Fargo & Co by 30.3% during the fourth quarter. Tocqueville Asset Management L.P. now owns 27,036 shares of the financial services provider’s stock valued at $1,455,000 after buying an additional 6,283 shares during the last quarter. Sabal Trust CO raised its position in shares of Wells Fargo & Co by 37.2% during the fourth quarter. Sabal Trust CO now owns 582,588 shares of the financial services provider’s stock valued at $31,344,000 after buying an additional 158,098 shares during the last quarter. Legacy Capital Partners Inc. raised its position in shares of Wells Fargo & Co by 4.5% during the fourth quarter. Legacy Capital Partners Inc. now owns 36,320 shares of the financial services provider’s stock valued at $1,954,000 after buying an additional 1,550 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Co during the fourth quarter valued at approximately $544,000. Finally, Hennessy Advisors Inc. raised its position in shares of Wells Fargo & Co by 3.0% during the fourth quarter. Hennessy Advisors Inc. now owns 116,100 shares of the financial services provider’s stock valued at $6,246,000 after buying an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 75.64% of the company’s stock.

Shares of WFC stock traded down $2.81 on Tuesday, reaching $49.30. The company’s stock had a trading volume of 56,661,966 shares, compared to its average volume of 21,290,297. The stock’s fifty day simple moving average is $53.64 and its 200-day simple moving average is $49.97. Wells Fargo & Co has a 1 year low of $43.34 and a 1 year high of $54.75. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $222.04 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.15 and a beta of 1.11.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.23). Wells Fargo & Co had a net margin of 21.67% and a return on equity of 13.01%. The business had revenue of $22.01 billion during the quarter, compared to analysts’ expectations of $21.32 billion. During the same period last year, the business posted $1.13 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Co will post 4.53 earnings per share for the current year.

Several equities research analysts have recently issued reports on the stock. Bank of America set a $50.00 price objective on shares of Wells Fargo & Co and gave the company a “hold” rating in a research report on Monday, September 30th. Raymond James cut shares of Wells Fargo & Co from a “market perform” rating to an “underperform” rating in a research report on Monday, December 2nd. Odeon Capital Group cut shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Thursday, December 19th. BMO Capital Markets reduced their price objective on shares of Wells Fargo & Co from $59.00 to $57.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 16th. Finally, Credit Suisse Group lifted their price objective on shares of Wells Fargo & Co from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Seven research analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $50.61.

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.

Featured Story: Profit Margin

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Co (NYSE:WFC).

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

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.