HighTower Advisors LLC Sells 12,823 Shares of WPP PLC $WPP

Key Points

• HighTower Advisors LLC has reduced its stake in WPP PLC by 46.1%, selling a total of 12,823 shares during the first quarter.
• WPP recently announced a semi-annual dividend of $0.5033 per share, which results in an impressive dividend yield of 1,060.0%.
• Analysts have varied opinions on WPP, with one maintaining a buy rating, two offering a hold rating, and two issuing a sell rating, leading to an overall average rating of "Reduce."

HighTower Advisors LLC lowered its stake in WPP PLC (NYSE:WPP - Free Report) by 46.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,975 shares of the business services provider's stock after selling 12,823 shares during the period. HighTower Advisors LLC's holdings in WPP were worth $568,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Stifel Financial Corp lifted its position in shares of WPP by 0.4% during the 4th quarter. Stifel Financial Corp now owns 56,210 shares of the business services provider's stock worth $2,889,000 after purchasing an additional 247 shares during the last quarter. Assetmark Inc. grew its stake in shares of WPP by 88.3% in the 1st quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock valued at $38,000 after purchasing an additional 467 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of WPP by 1.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 34,710 shares of the business services provider's stock valued at $1,318,000 after purchasing an additional 498 shares during the period. NewEdge Advisors LLC grew its position in WPP by 160.7% during the 4th quarter. NewEdge Advisors LLC now owns 3,368 shares of the business services provider's stock worth $173,000 after acquiring an additional 2,076 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in WPP by 323.1% during the 1st quarter. GAMMA Investing LLC now owns 5,276 shares of the business services provider's stock worth $200,000 after acquiring an additional 4,029 shares during the last quarter. Institutional investors and hedge funds own 4.34% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded WPP from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Kepler Capital Markets downgraded shares of WPP from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Barclays restated an "underweight" rating on shares of WPP in a research report on Friday, August 8th. Zacks Research downgraded shares of WPP from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of WPP in a research report on Thursday, July 10th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce".

WPP Price Performance

WPP traded up $0.39 during trading on Wednesday, hitting $26.60. 229,109 shares of the stock traded hands, compared to its average volume of 369,437. WPP PLC has a twelve month low of $24.28 and a twelve month high of $57.37. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 4.46 and a beta of 0.97. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.88. The business has a 50 day moving average price of $28.71 and a 200 day moving average price of $35.46.

WPP Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.5033 per share. This represents a dividend yield of 1,060.0%. The ex-dividend date of this dividend is Friday, October 10th. WPP's payout ratio is presently 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.