WPP PLC $WPP Shares Sold by Charles Schwab Investment Management Inc.

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. cut its holdings in shares of WPP PLC (NYSE:WPP - Free Report) by 52.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,008 shares of the business services provider's stock after selling 9,929 shares during the period. Charles Schwab Investment Management Inc.'s holdings in WPP were worth $342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of WPP by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 484,996 shares of the business services provider's stock worth $24,928,000 after buying an additional 35,412 shares during the last quarter. Northern Trust Corp raised its holdings in shares of WPP by 83.5% in the fourth quarter. Northern Trust Corp now owns 253,640 shares of the business services provider's stock worth $13,037,000 after buying an additional 115,416 shares during the last quarter. Gilman Hill Asset Management LLC raised its holdings in shares of WPP by 15.2% in the first quarter. Gilman Hill Asset Management LLC now owns 93,542 shares of the business services provider's stock worth $3,551,000 after buying an additional 12,330 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of WPP by 55.8% in the fourth quarter. Quantinno Capital Management LP now owns 54,443 shares of the business services provider's stock worth $2,798,000 after buying an additional 19,493 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of WPP by 120.2% during the first quarter. Bank of New York Mellon Corp now owns 46,452 shares of the business services provider's stock worth $1,763,000 after purchasing an additional 25,359 shares during the last quarter. 4.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

WPP Stock Performance

WPP traded up $0.18 on Friday, reaching $26.99. The stock had a trading volume of 296,756 shares, compared to its average volume of 421,253. WPP PLC has a 12-month low of $24.28 and a 12-month high of $57.37. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13. The business's 50-day moving average price is $28.23 and its two-hundred day moving average price is $35.00. The company has a market cap of $5.82 billion, a P/E ratio of 4.52 and a beta of 0.97.

WPP Cuts Dividend

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

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.