LPL Financial LLC lifted its holdings in shares of WPP plc (NYSE:WPP – Free Report) by 16.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,741 shares of the business services provider’s stock after purchasing an additional 6,577 shares during the quarter. LPL Financial LLC’s holdings in WPP were worth $2,391,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of WPP. Tower Research Capital LLC TRC increased its position in shares of WPP by 187.0% during the third quarter. Tower Research Capital LLC TRC now owns 617 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 402 shares during the last quarter. Advisory Services Network LLC increased its holdings in WPP by 166.8% in the 1st quarter. Advisory Services Network LLC now owns 675 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 422 shares during the last quarter. Allworth Financial LP raised its position in WPP by 6,028.6% in the second quarter. Allworth Financial LP now owns 858 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 844 shares during the period. JPMorgan Chase & Co. lifted its stake in WPP by 49.6% during the second quarter. JPMorgan Chase & Co. now owns 986 shares of the business services provider’s stock worth $50,000 after purchasing an additional 327 shares in the last quarter. Finally, Spire Wealth Management boosted its position in shares of WPP by 23.6% during the first quarter. Spire Wealth Management now owns 1,006 shares of the business services provider’s stock worth $60,000 after buying an additional 192 shares during the period. 4.34% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. BNP Paribas cut WPP from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 20th. Bank of America decreased their price target on shares of WPP to $46.00 in a research report on Wednesday, September 20th. StockNews.com downgraded shares of WPP from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. The Goldman Sachs Group cut WPP from a “buy” rating to a “neutral” rating in a research note on Thursday, September 28th. Finally, Deutsche Bank Aktiengesellschaft cut WPP from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $688.67.
WPP Stock Performance
Shares of WPP opened at $44.10 on Friday. The firm’s fifty day simple moving average is $44.90 and its 200-day simple moving average is $50.07. WPP plc has a twelve month low of $41.13 and a twelve month high of $64.07.
WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.
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