Wells Fargo & Company MN Sells 1,533 Shares of WPP plc (NYSE:WPP)

Wells Fargo & Company MN lowered its holdings in shares of WPP plc (NYSE:WPP) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,857 shares of the business services provider’s stock after selling 1,533 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of WPP worth $9,347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vestmark Advisory Solutions Inc. raised its holdings in WPP by 1.2% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 17,402 shares of the business services provider’s stock worth $894,000 after acquiring an additional 207 shares during the period. M&T Bank Corp grew its position in shares of WPP by 1.9% in the fourth quarter. M&T Bank Corp now owns 12,506 shares of the business services provider’s stock valued at $642,000 after purchasing an additional 228 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of WPP by 2.5% in the fourth quarter. Jones Financial Companies Lllp now owns 10,231 shares of the business services provider’s stock worth $526,000 after purchasing an additional 249 shares during the period. Aaron Wealth Advisors LLC increased its stake in shares of WPP by 5.2% in the fourth quarter. Aaron Wealth Advisors LLC now owns 5,105 shares of the business services provider’s stock worth $262,000 after purchasing an additional 251 shares during the period. Finally, HF Advisory Group LLC boosted its stake in WPP by 3.9% during the 4th quarter. HF Advisory Group LLC now owns 6,928 shares of the business services provider’s stock valued at $356,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 4.34% of the company’s stock.

WPP Stock Down 2.6 %

NYSE:WPP opened at $35.47 on Thursday. The stock’s fifty day simple moving average is $40.81 and its 200-day simple moving average is $47.50. The firm has a market capitalization of $7.65 billion, a P/E ratio of 5.94, a P/E/G ratio of 7.06 and a beta of 1.06. WPP plc has a 12-month low of $31.52 and a 12-month high of $57.37.

WPP Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.9728 per share. This represents a yield of 6.2%. The ex-dividend date is Friday, June 6th. This is a boost from WPP’s previous semi-annual dividend of $0.95. WPP’s dividend payout ratio is 8.04%.

Wall Street Analyst Weigh In

WPP has been the subject of a number of research analyst reports. Kepler Capital Markets raised shares of WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. Barclays cut WPP from an “overweight” rating to an “equal weight” rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group assumed coverage on WPP in a report on Wednesday, March 26th. They set a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, WPP has a consensus rating of “Moderate Buy”.

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.