NewEdge Wealth LLC Decreases Stock Position in WPP plc (NYSE:WPP)

NewEdge Wealth LLC reduced its position in WPP plc (NYSE:WPP) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,116 shares of the business services provider’s stock after selling 1,228 shares during the quarter. NewEdge Wealth LLC’s holdings in WPP were worth $767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of WPP. Pacer Advisors Inc. purchased a new stake in WPP in the fourth quarter worth $7,486,000. Optiver Holding B.V. boosted its holdings in shares of WPP by 732.7% in the third quarter. Optiver Holding B.V. now owns 119,986 shares of the business services provider’s stock worth $5,349,000 after acquiring an additional 105,577 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of WPP in the third quarter worth $2,866,000. FMR LLC boosted its holdings in shares of WPP by 7.1% in the third quarter. FMR LLC now owns 972,751 shares of the business services provider’s stock worth $43,365,000 after acquiring an additional 64,087 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of WPP in the second quarter worth $2,955,000. 4.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WPP has been the subject of a number of analyst reports. UBS Group lowered WPP from a “buy” rating to a “sell” rating in a report on Thursday, January 11th. StockNews.com raised WPP from a “hold” rating to a “buy” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, WPP currently has an average rating of “Hold” and an average price target of $46.00.

WPP Trading Down 0.2 %

NYSE:WPP opened at $47.27 on Wednesday. WPP plc has a 52-week low of $41.13 and a 52-week high of $60.37. The stock has a fifty day moving average of $46.78 and a 200 day moving average of $46.08. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.86.

WPP Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 7th will be paid a dividend of $0.244 per share. This represents a yield of 5.3%. The ex-dividend date of this dividend is Friday, June 7th.

WPP Profile

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.