Cabot Wealth Management Inc. Sells 6,416 Shares of Omnicom Group Inc. (NYSE:OMC)

Cabot Wealth Management Inc. cut its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 4.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,599 shares of the business services provider's stock after selling 6,416 shares during the quarter. Omnicom Group accounts for approximately 1.4% of Cabot Wealth Management Inc.'s holdings, making the stock its 29th largest position. Cabot Wealth Management Inc. owned approximately 0.07% of Omnicom Group worth $11,242,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Merit Financial Group LLC lifted its position in Omnicom Group by 157.9% in the 1st quarter. Merit Financial Group LLC now owns 7,661 shares of the business services provider's stock valued at $635,000 after acquiring an additional 4,690 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Omnicom Group by 13.9% during the 1st quarter. Fifth Third Bancorp now owns 7,459 shares of the business services provider's stock valued at $618,000 after buying an additional 913 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Omnicom Group by 146.6% during the 4th quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider's stock valued at $28,000 after buying an additional 195 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Omnicom Group by 51.1% during the 1st quarter. Farther Finance Advisors LLC now owns 7,420 shares of the business services provider's stock valued at $592,000 after buying an additional 2,508 shares during the period. Finally, Atria Wealth Solutions Inc. lifted its holdings in shares of Omnicom Group by 34.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 6,465 shares of the business services provider's stock valued at $558,000 after buying an additional 1,661 shares during the period. 91.97% of the stock is owned by institutional investors.

Omnicom Group Price Performance

Shares of Omnicom Group stock opened at $70.13 on Friday. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The stock's fifty day moving average is $73.82 and its 200 day moving average is $80.53. The stock has a market cap of $13.68 billion, a P/E ratio of 9.59, a P/E/G ratio of 1.67 and a beta of 0.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 1.01.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.07. Omnicom Group had a return on equity of 34.85% and a net margin of 9.20%. The company had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $3.73 billion. Sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.80 dividend on an annualized basis and a yield of 3.99%. Omnicom Group's payout ratio is presently 38.30%.

Analysts Set New Price Targets

OMC has been the topic of several research analyst reports. Barclays lowered their price target on Omnicom Group from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Citigroup reissued a "buy" rating and set a $103.00 price target on shares of Omnicom Group in a report on Tuesday, April 15th. UBS Group lowered their price target on Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Wells Fargo & Company lowered their price target on Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered their price target on Omnicom Group from $116.00 to $104.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $101.29.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.

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