NewEdge Wealth LLC Sells 1,228 Shares of WPP plc (NYSE:WPP)

NewEdge Wealth LLC cut its position in WPP plc (NYSE:WPP) by 7.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,116 shares of the business services provider’s stock after selling 1,228 shares during the quarter. NewEdge Wealth LLC’s holdings in WPP were worth $767,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in shares of WPP by 187.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 617 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 402 shares during the period. CWM LLC lifted its position in shares of WPP by 48.2% during the 3rd quarter. CWM LLC now owns 864 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 281 shares during the period. Advisory Services Network LLC lifted its position in shares of WPP by 166.8% during the 1st quarter. Advisory Services Network LLC now owns 675 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 422 shares during the period. UMB Bank n.a. raised its holdings in shares of WPP by 54.0% during the 3rd quarter. UMB Bank n.a. now owns 973 shares of the business services provider’s stock worth $43,000 after buying an additional 341 shares in the last quarter. Finally, CVA Family Office LLC acquired a new position in shares of WPP during the 4th quarter worth $49,000. 4.34% of the stock is currently owned by institutional investors.

WPP Stock Performance

Shares of WPP opened at $47.27 on Wednesday. WPP plc has a 12-month low of $41.13 and a 12-month high of $60.37. The business has a 50-day simple moving average of $46.78 and a two-hundred day simple moving average of $46.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.98.

WPP Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com raised WPP from a “hold” rating to a “buy” rating in a report on Friday, March 1st. UBS Group cut WPP from a “buy” rating to a “sell” rating in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.00.

WPP 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.