Oppenheimer Asset Management Inc. Raises Stock Holdings in WPP plc (NYSE:WPP)

Oppenheimer Asset Management Inc. grew its holdings in WPP plc (NYSE:WPP) by 9.0% in the second quarter, Holdings Channel reports. The institutional investor owned 34,765 shares of the business services provider’s stock after acquiring an additional 2,862 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in WPP were worth $1,592,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in WPP. Blue Trust Inc. grew its stake in WPP by 767.1% in the 2nd quarter. Blue Trust Inc. now owns 737 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 652 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of WPP in the first quarter valued at about $39,000. Voisard Asset Management Group Inc. purchased a new stake in shares of WPP during the fourth quarter worth about $45,000. EverSource Wealth Advisors LLC raised its position in shares of WPP by 62.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,320 shares of the business services provider’s stock worth $66,000 after purchasing an additional 505 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in WPP in the 2nd quarter valued at about $80,000. 4.34% of the stock is owned by institutional investors and hedge funds.

WPP Price Performance

Shares of WPP opened at $49.92 on Thursday. The stock has a fifty day simple moving average of $47.11 and a two-hundred day simple moving average of $48.10. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.09. WPP plc has a 52-week low of $41.13 and a 52-week high of $54.21.

WPP Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 11th will be paid a dividend of $0.954 per share. The ex-dividend date is Friday, October 11th. This is an increase from WPP’s previous Semi-Annual dividend of $0.24. This represents a yield of 5.7%.

Analysts Set New Price Targets

Several equities research analysts have commented on WPP shares. StockNews.com upgraded WPP from a “hold” rating to a “buy” rating in a research note on Sunday, September 8th. Citigroup raised WPP to a “strong-buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, WPP has a consensus rating of “Hold” and an average target price of $46.00.

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.