WPP plc (NYSE:WPP) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in WPP plc (NYSE:WPP) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in WPP by 92.4% in the 4th quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock worth $64,000 after buying an additional 599 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in WPP in the 3rd quarter worth $84,000. Allspring Global Investments Holdings LLC lifted its holdings 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 buying an additional 753 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in WPP in the 3rd quarter worth $203,000. Finally, Blue Trust Inc. lifted its holdings 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 buying an additional 498 shares in the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

WPP Stock Performance

Shares of WPP stock opened at $39.96 on Tuesday. The firm has a market cap 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. The firm’s 50-day simple moving average is $47.44 and its 200-day simple moving average is $50.02. WPP plc has a 1 year low of $39.78 and a 1 year high of $57.37.

WPP Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, July 4th. Investors of record on Friday, June 6th will be given a dividend of $0.9728 per share. This represents a dividend yield of 6.2%. The ex-dividend date is Friday, June 6th. This is an increase from WPP’s previous semi-annual dividend of $0.95. WPP’s dividend payout ratio is currently 8.04%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WPP shares. Kepler Capital Markets upgraded shares of WPP from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. Barclays lowered shares of WPP from an “overweight” rating to an “equal weight” rating in a research note on Friday. Finally, StockNews.com lowered shares of WPP from a “buy” rating to a “hold” rating in a research note on Monday, November 18th.

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.