Greenleaf Trust Has $227,000 Stock Position in Wipro Limited $WIT

Key Points

• Greenleaf Trust reduced its stake in Wipro Limited by 58.6%, owning 75,084 shares valued at approximately $227,000 after selling 106,248 shares in the second quarter.
• Wipro recently reported $2.58 billion in revenue for the quarter, meeting analyst expectations, with an earnings per share (EPS) of $0.04.
• The company declared a dividend of $0.057 per share, with a dividend yield of 409.9% and a payout ratio of 62.50%.

Greenleaf Trust reduced its stake in Wipro Limited (NYSE:WIT - Free Report) by 58.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,084 shares of the information technology services provider's stock after selling 106,248 shares during the period. Greenleaf Trust's holdings in Wipro were worth $227,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Hamilton Capital LLC bought a new position in Wipro during the first quarter worth about $32,000. CogentBlue Wealth Advisors LLC acquired a new stake in shares of Wipro in the 1st quarter valued at approximately $37,000. Legacy Advisors LLC bought a new position in Wipro during the 1st quarter worth approximately $40,000. Hoxton Planning & Management LLC acquired a new position in Wipro during the first quarter valued at approximately $48,000. Finally, Focus Partners Advisor Solutions LLC increased its stake in Wipro by 62.4% in the first quarter. Focus Partners Advisor Solutions LLC now owns 16,253 shares of the information technology services provider's stock valued at $50,000 after purchasing an additional 6,245 shares in the last quarter. Institutional investors and hedge funds own 2.36% of the company's stock.

Wipro Trading Up 0.2%

Shares of NYSE WIT opened at $2.63 on Friday. The company has a fifty day moving average price of $2.74 and a 200 day moving average price of $2.87. The firm has a market cap of $27.48 billion, a PE ratio of 16.94 and a beta of 1.00. Wipro Limited has a 1-year low of $2.58 and a 1-year high of $3.79.

Wipro (NYSE:WIT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The information technology services provider reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $219.23 billion. Wipro had a return on equity of 15.94% and a net margin of 15.07%. Equities research analysts forecast that Wipro Limited will post 0.14 EPS for the current year.

Wipro Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 28th were paid a dividend of $0.057 per share. This represents a dividend yield of 409.9%. The ex-dividend date of this dividend was Monday, July 28th. Wipro's dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of Wipro in a research report on Saturday, September 27th. Morgan Stanley upgraded Wipro from an "underweight" rating to an "equal weight" rating in a report on Friday, June 20th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce".

Wipro Profile

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through IT Services and IT Products segments. The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.

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