WPP (NYSE:WPP) Share Price Crosses Above Two Hundred Day Moving Average of $50.89

WPP plc (NYSE:WPP – Get Rating) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $50.89 and traded as high as $56.43. WPP shares last traded at $56.15, with a volume of 142,550 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WPP. JPMorgan Chase & Co. raised their price objective on shares of WPP from GBX 1,210 ($14.75) to GBX 1,260 ($15.36) in a report on Monday, December 12th. Morgan Stanley lowered their price target on shares of WPP from GBX 770 ($9.38) to GBX 760 ($9.26) in a report on Tuesday, January 31st. The Goldman Sachs Group upgraded shares of WPP from a “neutral” rating to a “buy” rating in a report on Wednesday, January 18th. Credit Suisse Group upgraded shares of WPP from a “neutral” rating to an “outperform” rating in a report on Wednesday, February 22nd. Finally, Barclays upgraded shares of WPP from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,001.29.

WPP Stock Performance

The firm’s 50 day moving average price is $59.08 and its two-hundred day moving average price is $50.89. The company has a market cap of $12.03 billion, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 1.35 and a beta of 1.39.

WPP Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 9th will be paid a $1.4657 dividend. The ex-dividend date is Thursday, June 8th. This represents a dividend yield of 3.7%. This is a positive change from WPP’s previous semi-annual dividend of $0.91. WPP’s payout ratio is currently 43.73%.

Institutional Trading of WPP

Several hedge funds have recently bought and sold shares of WPP. Raymond James Financial Services Advisors Inc. grew its position in WPP by 3.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 27,982 shares of the business services provider’s stock valued at $1,832,000 after purchasing an additional 963 shares during the period. American Century Companies Inc. boosted its holdings in WPP by 67.6% during the 1st quarter. American Century Companies Inc. now owns 14,658 shares of the business services provider’s stock worth $960,000 after acquiring an additional 5,913 shares during the last quarter. Citigroup Inc. boosted its holdings in WPP by 12.4% during the 1st quarter. Citigroup Inc. now owns 6,060 shares of the business services provider’s stock worth $397,000 after acquiring an additional 668 shares during the last quarter. Sei Investments Co. boosted its holdings in WPP by 9.8% during the 1st quarter. Sei Investments Co. now owns 3,811 shares of the business services provider’s stock worth $250,000 after acquiring an additional 340 shares during the last quarter. Finally, Mariner LLC boosted its holdings in WPP by 12.3% during the 1st quarter. Mariner LLC now owns 17,421 shares of the business services provider’s stock worth $1,140,000 after acquiring an additional 1,909 shares during the last quarter. Institutional investors and hedge funds own 3.79% of the company’s stock.

About WPP

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WPP Plc is a creative transformation company, which engages in the provision of communications services. It operates through the following segments: Global Integrated Agencies, Public Relations, and Specialist Agencies. The Global Integrated Agencies segment offers creative services including advertising, marketing, and brand strategies and campaigns across all media.