Schechter Investment Advisors LLC Sells 454 Shares of WPP plc (NYSE:WPP)

Schechter Investment Advisors LLC lowered its stake in shares of WPP plc (NYSE:WPP) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,362 shares of the business services provider’s stock after selling 454 shares during the quarter. Schechter Investment Advisors LLC’s holdings in WPP were worth $1,064,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WPP. Pacer Advisors Inc. acquired a new stake in WPP during the fourth quarter worth $7,486,000. Optiver Holding B.V. boosted its stake in WPP by 732.7% during the third quarter. Optiver Holding B.V. now owns 119,986 shares of the business services provider’s stock worth $5,349,000 after buying an additional 105,577 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in WPP during the third quarter worth $2,866,000. FMR LLC boosted its stake in WPP by 7.1% during the third quarter. FMR LLC now owns 972,751 shares of the business services provider’s stock worth $43,365,000 after buying an additional 64,087 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in WPP during the second quarter worth $2,955,000. Institutional investors own 4.34% of the company’s stock.

WPP Trading Down 0.2 %

Shares of NYSE:WPP opened at $46.79 on Thursday. The company’s fifty day moving average is $47.10 and its 200-day moving average is $45.98. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.86 and a current ratio of 0.86. WPP plc has a 52 week low of $41.13 and a 52 week high of $60.37.

WPP Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 7th will be issued a $0.244 dividend. The ex-dividend date is Friday, June 7th. This represents a dividend yield of 5.3%.

Analysts Set New Price Targets

WPP has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of WPP from an “overweight” rating to a “neutral” rating in a research note on Wednesday, December 13th. UBS Group downgraded shares of WPP from a “buy” rating to a “sell” rating in a research note on Thursday, January 11th. Finally, StockNews.com upgraded shares of WPP from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.