Charles Schwab Investment Management Inc. Lowers Stock Holdings in WPP PLC $WPP

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in WPP PLC by 52.4%, selling 9,929 shares and now holding 9,008 shares, valued at approximately $342,000 as of the latest quarter.
• Analyst ratings for WPP have fluctuated, with one buy, two holds, and two sells currently assigned, reflecting a consensus rating of "Reduce."
• WPP declared a semi-annual dividend of $0.5033 per share, with a significant dividend yield of 1,060.0% despite a payout ratio of just 8.21%.

Charles Schwab Investment Management Inc. lowered its position in WPP PLC (NYSE:WPP - Free Report) by 52.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,008 shares of the business services provider's stock after selling 9,929 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in WPP were worth $342,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. increased its holdings in shares of WPP by 88.3% in the first quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock worth $38,000 after purchasing an additional 467 shares during the period. Oppenheimer Asset Management Inc. increased its stake in WPP by 1.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 34,710 shares of the business services provider's stock valued at $1,318,000 after acquiring an additional 498 shares during the last quarter. GAMMA Investing LLC increased its stake in WPP by 323.1% in the first quarter. GAMMA Investing LLC now owns 5,276 shares of the business services provider's stock valued at $200,000 after acquiring an additional 4,029 shares during the last quarter. First Trust Advisors LP bought a new position in WPP in the fourth quarter valued at $309,000. Finally, Inlet Private Wealth LLC increased its stake in WPP by 31.0% in the first quarter. Inlet Private Wealth LLC now owns 27,900 shares of the business services provider's stock valued at $1,059,000 after acquiring an additional 6,600 shares during the last quarter. Institutional investors own 4.34% of the company's stock.

WPP Trading Up 0.3%

Shares of NYSE:WPP traded up $0.08 on Tuesday, reaching $27.28. 183,156 shares of the company traded hands, compared to its average volume of 386,954. The business's 50-day simple moving average is $27.91 and its 200 day simple moving average is $34.72. WPP PLC has a 52 week low of $24.28 and a 52 week high of $57.37. The stock has a market capitalization of $5.89 billion, a P/E ratio of 4.57 and a beta of 0.97. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13.

WPP Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.5033 dividend. The ex-dividend date is Friday, October 10th. This represents a yield of 1,060.0%. WPP's dividend payout ratio (DPR) is 8.21%.

Wall Street Analyst Weigh In

WPP has been the topic of a number of research analyst reports. Barclays reissued an "underweight" rating on shares of WPP in a research note on Friday, August 8th. Kepler Capital Markets cut WPP from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Wall Street Zen cut WPP from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Zacks Research cut WPP from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of WPP in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, WPP has a consensus rating of "Reduce".

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.