WPP plc (NYSE:WPP) Stock Position Decreased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in shares of WPP plc (NYSE:WPP) by 2.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 34,212 shares of the business services provider’s stock after selling 856 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in WPP were worth $1,758,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of WPP. GAMMA Investing LLC grew its position in shares of WPP by 92.4% during the 4th quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock valued at $64,000 after buying an additional 599 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in WPP in the 3rd quarter worth about $84,000. Allspring Global Investments Holdings LLC grew its position in WPP by 27.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,509 shares of the business services provider’s stock worth $180,000 after purchasing an additional 753 shares during the last quarter. Apollon Wealth Management LLC bought a new position in WPP in the 3rd quarter worth about $203,000. Finally, Blue Trust Inc. grew its position in WPP by 14.1% in the 4th quarter. Blue Trust Inc. now owns 4,024 shares of the business services provider’s stock worth $206,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 4.34% of the company’s stock.

WPP Price Performance

WPP stock opened at $39.96 on Tuesday. The firm has a 50 day simple moving average of $47.44 and a 200-day simple moving average of $50.02. The stock has a market capitalization of $8.62 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 7.06 and a beta of 1.25. WPP plc has a 12-month low of $39.78 and a 12-month high of $57.37.

WPP Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, July 4th. Stockholders of record on Friday, June 6th will be issued a $0.9728 dividend. The ex-dividend date is Friday, June 6th. This is a boost from WPP’s previous semi-annual dividend of $0.95. This represents a dividend yield of 6.2%. WPP’s dividend payout ratio (DPR) is 8.04%.

Analyst Upgrades and Downgrades

Several research firms have commented on WPP. Barclays cut shares of WPP from an “overweight” rating to an “equal weight” rating in a research report on Friday. StockNews.com cut shares of WPP from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. Finally, Kepler Capital Markets upgraded shares of WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th.

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.