Macguire Cheswick Tuttle Investment Counsel Lowers stake in Wells Fargo & Co (WFC)

Wells Fargo & Co (WFC) : Macguire Cheswick Tuttle Investment Counsel reduced its stake in Wells Fargo & Co by 0.46% during the most recent quarter end. The investment management company now holds a total of 295,950 shares of Wells Fargo & Co which is valued at $14,300,304 after selling 1,356 shares in Wells Fargo & Co , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.Wells Fargo & Co makes up approximately 3.06% of Macguire Cheswick Tuttle Investment Counsel’s portfolio.

Other Hedge Funds, Including , Pineno Levin Ford Asset Management reduced its stake in WFC by selling 91 shares or 1.15% in the most recent quarter. The Hedge Fund company now holds 7,803 shares of WFC which is valued at $377,041. Wells Fargo & Co makes up approx 0.19% of Pineno Levin Ford Asset Management’s portfolio.Addison Capital Co boosted its stake in WFC in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 43,767 shares of Wells Fargo & Co which is valued at $2,114,821. Wells Fargo & Co makes up approx 1.84% of Addison Capital Co’s portfolio.Breton Hill Capital Ltd. boosted its stake in WFC in the latest quarter, The investment management firm added 4,967 additional shares and now holds a total of 20,092 shares of Wells Fargo & Co which is valued at $969,841. Wells Fargo & Co makes up approx 0.30% of Breton Hill Capital Ltd.’s portfolio.Perkins Coie Trust Co boosted its stake in WFC in the latest quarter, The investment management firm added 3,009 additional shares and now holds a total of 45,896 shares of Wells Fargo & Co which is valued at $2,193,370. Wells Fargo & Co makes up approx 1.43% of Perkins Coie Trust Co’s portfolio.Triangle Securities Wealth Management reduced its stake in WFC by selling 1,039 shares or 2.18% in the most recent quarter. The Hedge Fund company now holds 46,535 shares of WFC which is valued at $2,223,908. Wells Fargo & Co makes up approx 1.64% of Triangle Securities Wealth Management’s portfolio.

Wells Fargo & Co opened for trading at $47.94 and hit $48.215 on the upside on Thursday, eventually ending the session at $48.13, with a gain of 0.27% or 0.13 points. The heightened volatility saw the trading volume jump to 1,25,15,209 shares. Company has a market cap of $244,358 M.

On the company’s financial health, Wells Fargo & Co reported $1.01 EPS for the quarter, based on the information available during the earnings call on Jul 15, 2016. Analyst had a consensus estimate of $1.01. The company had revenue of $22162.00 million for the quarter, compared to analysts expectations of $22091.72 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.

Many Wall Street Analysts have commented on Wells Fargo & Co. Shares were Reiterated by RBC Capital Mkts on Jul 18, 2016 to “Outperform” and Lowered the Price Target to $ 54 from a previous price target of $57 .Berenberg Initiated Wells Fargo & Co on Jul 13, 2016 to “Hold”, Price Target of the shares are set at $45.Wells Fargo & Co was Downgraded by Raymond James to ” Mkt Perform” on Jul 7, 2016.

Wells Fargo & Company is a financial services and bank holding company. The Company’s segments are Community Banking Wholesale Banking and Wealth and Brokerage and Retirement. The Company’s Community Banking segment offers a range of financial products and services for consumers and small businesses including checking and savings accounts credit and debit cards and auto student and small business lending. The Community Banking segment’s products include investment insurance and trust services and mortgage and home equity loans. The Community Banking segment’s products and business segments include middle market commercial banking government and institutional banking corporate banking and commercial real estate among others. The Company’s Wholesale Banking segment provides a range of financial solutions to businesses across the United States and around the world. The Wealth and Brokerage and Retirement segment provides a range of financial advisory services.

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