NovaPoint Capital LLC Sells 3,603 Shares of Omnicom Group Inc. $OMC

Key Points

• NovaPoint Capital LLC has reduced its holdings in Omnicom Group Inc. by 9.9%, selling 3,603 shares and now owning 32,632 shares valued at approximately $2,348,000.
• Omnicom Group recently reported earnings of $2.05 per share, surpassing analysts' expectations and showing a 4.2% revenue increase year-over-year.
• The company also announced a quarterly dividend of $0.70, representing an annualized amount of $2.80 and a 3.6% dividend yield.

NovaPoint Capital LLC reduced its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,632 shares of the business services provider's stock after selling 3,603 shares during the period. NovaPoint Capital LLC's holdings in Omnicom Group were worth $2,348,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Robinson Value Management Ltd. increased its position in shares of Omnicom Group by 0.4% during the first quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider's stock valued at $2,837,000 after purchasing an additional 139 shares during the period. Versant Capital Management Inc increased its position in shares of Omnicom Group by 45.7% during the first quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after purchasing an additional 143 shares during the period. Mezzasalma Advisors LLC increased its position in shares of Omnicom Group by 3.1% during the first quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider's stock valued at $443,000 after purchasing an additional 159 shares during the period. Financial Advisors Network Inc. increased its position in shares of Omnicom Group by 6.1% during the first quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider's stock valued at $228,000 after purchasing an additional 159 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its position in shares of Omnicom Group by 0.8% during the first quarter. Linden Thomas Advisory Services LLC now owns 22,126 shares of the business services provider's stock valued at $1,834,000 after purchasing an additional 165 shares during the period. 91.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Wells Fargo & Company upgraded Omnicom Group from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $78.00 to $91.00 in a research report on Tuesday. Bank of America raised Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a research note on Monday, June 23rd. Finally, Barclays lowered Omnicom Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Omnicom Group currently has an average rating of "Moderate Buy" and a consensus price target of $96.29.

Omnicom Group Stock Performance

Shares of NYSE:OMC opened at $77.04 on Friday. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $107.00. The firm has a market cap of $14.92 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. The business has a fifty day moving average of $76.02 and a 200-day moving average of $75.16.

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 for the quarter, beating analysts' consensus estimates of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period last year, the company posted $1.95 earnings per share. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. The ex-dividend date is 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 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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