International Assets Investment Management LLC Buys Shares of 26,877 WPP plc (NYSE:WPP)

International Assets Investment Management LLC bought a new position in shares of WPP plc (NYSE:WPP) during the 4th quarter, HoldingsChannel.com reports. The fund bought 26,877 shares of the business services provider’s stock, valued at approximately $1,279,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WPP. FMR LLC grew its stake in shares of WPP by 7.1% in the 3rd quarter. FMR LLC now owns 972,751 shares of the business services provider’s stock valued at $43,365,000 after buying an additional 64,087 shares during the period. Macquarie Group Ltd. boosted its holdings in WPP by 3.4% in the first quarter. Macquarie Group Ltd. now owns 923,843 shares of the business services provider’s stock worth $54,987,000 after acquiring an additional 30,259 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of WPP by 7.2% during the third quarter. Royal Bank of Canada now owns 701,277 shares of the business services provider’s stock valued at $31,264,000 after acquiring an additional 46,840 shares in the last quarter. Morgan Stanley raised its position in shares of WPP by 1.6% during the third quarter. Morgan Stanley now owns 688,225 shares of the business services provider’s stock worth $30,681,000 after purchasing an additional 10,560 shares during the period. Finally, BlackRock Inc. grew its position in WPP by 6.6% in the 3rd quarter. BlackRock Inc. now owns 395,941 shares of the business services provider’s stock valued at $16,309,000 after purchasing an additional 24,583 shares during the period. 4.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WPP shares. StockNews.com upgraded shares of WPP from a “hold” rating to a “buy” rating in a report on Friday, March 1st. UBS Group lowered WPP from a “buy” rating to a “sell” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.00.

WPP Stock Performance

NYSE:WPP opened at $48.18 on Monday. WPP plc has a 52 week low of $41.13 and a 52 week high of $60.05. The firm has a 50-day moving average price of $46.69 and a two-hundred day moving average price of $46.18. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.98.

WPP Cuts Dividend

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

About WPP

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.