Wells Fargo Reports Initiation of HP (HPQ) with $21.0 Target; Ferguson Wellman Capital Management Has Upped Wells Fargo (WFC) Holding

November 15, 2017 - By Louis Casey

Ferguson Wellman Capital Management Inc increased Wells Fargo (WFC) stake by 27.44% reported in 2017Q2 SEC filing. Ferguson Wellman Capital Management Inc acquired 174,052 shares as Wells Fargo (WFC)’s stock declined 8.66%. The Ferguson Wellman Capital Management Inc holds 808,260 shares with $44.79 million value, up from 634,208 last quarter. Wells Fargo now has $266.30B valuation. The stock declined 1.00% or $0.54 reaching $53.5 on the news. About 121,083 shares traded. Wells Fargo & Co (NYSE:WFC) has risen 9.67% since November 15, 2016 and is uptrending. It has underperformed by 7.03% the S&P500.

Among 31 analysts covering Hewlett-Packard (NYSE:HPQ), 17 have Buy rating, 0 Sell and 14 Hold. Therefore 55% are positive. Hewlett-Packard has $45 highest and $6 lowest target. $23.26’s average target is 8.90% above currents $21.36 stock price. Hewlett-Packard had 121 analyst reports since August 17, 2015 according to SRatingsIntel. Loop Capital Markets initiated the shares of HPQ in report on Tuesday, August 22 with “Buy” rating. The company was maintained on Tuesday, September 5 by Jefferies. The company was initiated on Tuesday, November 3 by Bernstein. The stock of HP Inc (NYSE:HPQ) has “Neutral” rating given on Thursday, February 23 by Mizuho. The firm earned “Neutral” rating on Tuesday, September 22 by Goldman Sachs. The rating was initiated by Stifel Nicolaus with “Hold” on Friday, October 30. The firm has “Hold” rating by Guggenheim given on Friday, October 13. The firm earned “Equal Weight” rating on Thursday, February 23 by Barclays Capital. The rating was maintained by Mizuho with “Neutral” on Friday, October 14. The firm earned “Hold” rating on Friday, October 27 by Maxim Group.

Investors sentiment increased to 0.88 in Q2 2017. Its up 0.12, from 0.76 in 2017Q1. It is positive, as 85 investors sold WFC shares while 685 reduced holdings. 110 funds opened positions while 566 raised stakes. 3.66 billion shares or 1.73% less from 3.73 billion shares in 2017Q1 were reported. North Carolina-based Atria Investments has invested 0.16% in Wells Fargo & Co (NYSE:WFC). Stonebridge Management Inc owns 3,751 shares. Strategic Wealth Advsr Group Inc Ltd Liability Co accumulated 13,632 shares. Atlanta Cap Grp owns 49,454 shares. American Bancorp reported 0.49% of its portfolio in Wells Fargo & Co (NYSE:WFC). Private Asset Mgmt has invested 1.64% of its portfolio in Wells Fargo & Co (NYSE:WFC). Tiverton Asset Ltd Llc owns 259,844 shares or 0.78% of their US portfolio. Suntrust Banks holds 0.59% in Wells Fargo & Co (NYSE:WFC) or 1.92M shares. Halbert Hargrove Russell Ltd Liability Corp has invested 0.13% of its portfolio in Wells Fargo & Co (NYSE:WFC). Baxter Bros Inc holds 3.51% of its portfolio in Wells Fargo & Co (NYSE:WFC) for 210,199 shares. Qv Inc invested 7.53% in Wells Fargo & Co (NYSE:WFC). Cumberland Ptnrs Ltd holds 1.27% or 161,915 shares in its portfolio. Park Oh holds 1.01% or 305,769 shares. Spindletop Ltd Com holds 7.58% of its portfolio in Wells Fargo & Co (NYSE:WFC) for 167,500 shares. Reaves W H & has 9,000 shares.

Since May 16, 2017, it had 0 insider buys, and 2 sales for $3.39 million activity. The insider Hardison Hope A. sold $1.04 million. Pelos Petros G had sold 24,708 shares worth $1.34 million. Shares for $2.05M were sold by Mack Mary T.

Ferguson Wellman Capital Management Inc decreased Exxon Mobil (NYSE:XOM) stake by 5,547 shares to 171,020 valued at $13.81 million in 2017Q2. It also reduced Berkshire Hathaway Class B (BRKB) stake by 69,526 shares and now owns 188,685 shares. Time Warner Companies (NYSE:TWX) was reduced too.

Among 32 analysts covering Wells Fargo & Company (NYSE:WFC), 13 have Buy rating, 5 Sell and 14 Hold. Therefore 41% are positive. Wells Fargo & Company had 102 analyst reports since July 29, 2015 according to SRatingsIntel. The stock of Wells Fargo & Co (NYSE:WFC) has “Underweight” rating given on Friday, April 15 by Piper Jaffray. The stock of Wells Fargo & Co (NYSE:WFC) has “Hold” rating given on Sunday, July 30 by BMO Capital Markets. The rating was upgraded by Deutsche Bank to “Buy” on Tuesday, September 8. FBR Capital downgraded Wells Fargo & Co (NYSE:WFC) on Wednesday, October 19 to “Mkt Perform” rating. The rating was upgraded by Robert W. Baird to “Outperform” on Monday, September 19. UBS reinitiated the stock with “Neutral” rating in Wednesday, January 11 report. Piper Jaffray initiated the stock with “Neutral” rating in Tuesday, November 24 report. The stock has “Neutral” rating by UBS on Monday, October 10. The rating was upgraded by Keefe Bruyette & Woods on Tuesday, January 12 to “Outperform”. UBS maintained it with “Neutral” rating and $55 target in Monday, October 16 report.

HP Inc. is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including clients in the government, health and education sectors. The company has market cap of $35.68 billion. The Firm provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services. It has a 15.38 P/E ratio. The Company’s divisions include Personal Systems, Printing and Corporate Investments.

Analysts await HP Inc (NYSE:HPQ) to report earnings on November, 21 after the close. They expect $0.44 earnings per share, up 22.22% or $0.08 from last year’s $0.36 per share. HPQ’s profit will be $734.98 million for 12.14 P/E if the $0.44 EPS becomes a reality. After $0.43 actual earnings per share reported by HP Inc for the previous quarter, Wall Street now forecasts 2.33% EPS growth.

Investors sentiment increased to 1.71 in 2017 Q2. Its up 0.41, from 1.3 in 2017Q1. It is positive, as 3 investors sold HP Inc shares while 4 reduced holdings. 3 funds opened positions while 9 raised stakes. 2.22 million shares or 13.88% more from 1.95 million shares in 2017Q1 were reported. Altfest L J Com owns 17,319 shares. Greenwich Wealth Limited Liability Co reported 0.46% in HP Inc (NYSE:HPQ). Eqis Mgmt, California-based fund reported 87,061 shares. Cap Inv Advsr Ltd Liability Corp, a Georgia-based fund reported 19,138 shares. Mitchell Mcleod Pugh & Williams holds 0.14% in HP Inc (NYSE:HPQ) or 10,845 shares. Meag Munich Ergo Kapitalanlagegesellschaft Mbh owns 1.08M shares or 0.8% of their US portfolio. Focused Wealth Management Inc holds 0.12% or 18,600 shares in its portfolio. West Oak Cap Lc holds 0% or 4,196 shares. Prudential Pcl has 0% invested in HP Inc (NYSE:HPQ). Private Ocean Lc holds 0.02% or 1,916 shares. North Star Asset Mngmt holds 0.05% of its portfolio in HP Inc (NYSE:HPQ) for 28,619 shares. 64,583 were reported by Balasa Dinverno Foltz Ltd Liability Co. Gulf Bankshares (Uk) Limited has invested 0.13% in HP Inc (NYSE:HPQ). Palisade Asset Mgmt Lc reported 0.1% of its portfolio in HP Inc (NYSE:HPQ). Grassi Invest Management invested in 0.1% or 31,150 shares.

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