Charles Schwab Investment Management Inc. Sells 9,929 Shares of WPP PLC $WPP

Charles Schwab Investment Management Inc. decreased its position in shares of WPP PLC (NYSE:WPP) by 52.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,008 shares of the business services provider’s stock after selling 9,929 shares during the period. Charles Schwab Investment Management Inc.’s holdings in WPP were worth $342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in shares of WPP by 88.3% in the first quarter. Assetmark Inc. now owns 996 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 467 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in WPP by 1.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 34,710 shares of the business services provider’s stock worth $1,318,000 after buying an additional 498 shares during the period. GAMMA Investing LLC boosted its stake in WPP by 323.1% during the first quarter. GAMMA Investing LLC now owns 5,276 shares of the business services provider’s stock worth $200,000 after buying an additional 4,029 shares during the period. First Trust Advisors LP purchased a new position in WPP during the fourth quarter worth $309,000. Finally, Inlet Private Wealth LLC boosted its stake in WPP by 31.0% during the first quarter. Inlet Private Wealth LLC now owns 27,900 shares of the business services provider’s stock worth $1,059,000 after buying an additional 6,600 shares during the period. Institutional investors own 4.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of WPP in a research report on Thursday, July 10th. Wall Street Zen downgraded shares of WPP from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Zacks Research lowered WPP from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 21st. Barclays reiterated an “underweight” rating on shares of WPP in a research report on Friday, August 8th. Finally, Kepler Capital Markets lowered WPP from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

WPP Stock Up 1.3%

Shares of NYSE:WPP opened at $26.55 on Thursday. The stock has a market cap of $5.73 billion, a P/E ratio of 4.45 and a beta of 0.97. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.13. WPP PLC has a 52-week low of $24.28 and a 52-week high of $57.37. The business has a fifty day moving average of $28.56 and a two-hundred day moving average of $35.39.

WPP Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.5033 per share. The ex-dividend date is Friday, October 10th. This represents a dividend yield of 1,060.0%. WPP’s dividend payout ratio is currently 8.21%.

WPP Company 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.