Abacus Wealth Partners LLC Invests $1.75 Million in Omnicom Group Inc. $OMC

Key Points

• Abacus Wealth Partners bought a new Omnicom Group position in the fourth quarter, acquiring 21,695 shares valued at about $1.75 million.
• Institutional interest in Omnicom remains high, with 91.97% of the stock owned by institutions and several other small investors recently increasing or starting positions.
• Omnicom reported better-than-expected quarterly results, beating EPS and revenue estimates, while also authorizing a $5 billion share buyback and declaring a quarterly dividend of $0.80 per share.

Abacus Wealth Partners LLC purchased a new position in Omnicom Group Inc. (NYSE:OMC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,695 shares of the business services provider's stock, valued at approximately $1,752,000.

Other large investors also recently modified their holdings of the company. Activest Wealth Management boosted its holdings in shares of Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider's stock valued at $25,000 after acquiring an additional 296 shares during the period. Bayforest Capital Ltd acquired a new stake in shares of Omnicom Group in the 4th quarter worth about $26,000. Cornerstone Planning Group LLC lifted its position in Omnicom Group by 2,126.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider's stock valued at $27,000 after purchasing an additional 319 shares during the last quarter. Legacy Wealth Managment LLC ID lifted its position in Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its stake in Omnicom Group by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider's stock valued at $31,000 after purchasing an additional 202 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OMC. Weiss Ratings reissued a "hold (c)" rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Barclays boosted their target price on shares of Omnicom Group from $82.00 to $90.00 and gave the company an "equal weight" rating in a research note on Monday, February 23rd. Morgan Stanley boosted their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. Citigroup reduced their target price on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating for the company in a research note on Thursday, April 30th. Finally, Argus raised shares of Omnicom Group to a "hold" rating in a research note on Thursday, March 26th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Omnicom Group presently has a consensus rating of "Hold" and an average price target of $93.71.

Omnicom Group Trading Down 1.0%

NYSE:OMC opened at $70.89 on Friday. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The stock has a market cap of $20.20 billion, a price-to-earnings ratio of 181.78, a PEG ratio of 0.42 and a beta of 0.66. The business has a fifty day moving average of $76.81 and a 200-day moving average of $76.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company had revenue of $6.24 billion during the quarter, compared to analysts' expectations of $5.85 billion. During the same quarter in the prior year, the business posted $1.70 earnings per share. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. Equities analysts predict that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, June 10th. This represents a $3.20 annualized dividend and a dividend yield of 4.5%. Omnicom Group's dividend payout ratio (DPR) is 820.51%.

Omnicom Group Profile

Omnicom Group Inc NYSE: OMC is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company's primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.

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