Moran Wealth Management LLC Sells 3,466 Shares of Omnicom Group Inc. $OMC

Key Points

• Moran Wealth Management LLC reduced its holdings in Omnicom Group by 4.6%, selling 3,466 shares, and now holds a total of 72,594 shares worth approximately $5.22 million.
• Shares of Omnicom Group have experienced recent rating changes, with JPMorgan Chase lowering its price target from $104 to $96, while Wells Fargo upgraded its rating and increased the price target from $78 to $91.
• Omnicom Group declared a quarterly dividend of $0.70 per share, providing an annualized yield of 3.6%, with a payout ratio of 40.17% as per its recent financial announcements.

Moran Wealth Management LLC cut its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,594 shares of the business services provider's stock after selling 3,466 shares during the period. Moran Wealth Management LLC's holdings in Omnicom Group were worth $5,222,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT bought a new stake in Omnicom Group in the 1st quarter valued at $34,000. Gen Wealth Partners Inc bought a new stake in Omnicom Group in the 1st quarter valued at $36,000. Ameritas Advisory Services LLC bought a new stake in Omnicom Group in the 2nd quarter valued at $34,000. Golden State Wealth Management LLC boosted its holdings in Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after purchasing an additional 343 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new stake in Omnicom Group in the 1st quarter valued at $43,000. 91.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Barclays cut shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective for the company in a research note on Monday, June 23rd. Wells Fargo & Company upgraded shares of Omnicom Group from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $96.29.

Omnicom Group Trading Up 2.7%

Shares of Omnicom Group stock opened at $78.58 on Wednesday. The stock has a market capitalization of $15.22 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.49 and a beta of 0.96. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The company has a 50-day simple moving average of $77.09 and a 200 day simple moving average of $74.94. Omnicom Group Inc. has a 12-month low of $68.37 and a 12-month high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $1.95 EPS. Research analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 2nd were given a dividend of $0.70 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.6%. Omnicom Group's dividend payout ratio (DPR) is 40.17%.

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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