Welch & Forbes LLC Lowers Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Welch & Forbes LLC cut its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 272,500 shares of the business services provider's stock after selling 11,870 shares during the quarter. Welch & Forbes LLC owned approximately 0.14% of Omnicom Group worth $22,593,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bridgewater Advisors Inc. purchased a new position in Omnicom Group during the first quarter valued at $569,000. Tectonic Advisors LLC raised its position in shares of Omnicom Group by 4.0% in the 1st quarter. Tectonic Advisors LLC now owns 5,461 shares of the business services provider's stock worth $453,000 after purchasing an additional 208 shares during the last quarter. Larson Financial Group LLC boosted its stake in Omnicom Group by 9.4% in the 1st quarter. Larson Financial Group LLC now owns 9,499 shares of the business services provider's stock worth $788,000 after purchasing an additional 815 shares in the last quarter. Wealthfront Advisers LLC increased its stake in Omnicom Group by 7.3% during the 1st quarter. Wealthfront Advisers LLC now owns 26,669 shares of the business services provider's stock valued at $2,211,000 after purchasing an additional 1,811 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC raised its holdings in Omnicom Group by 4.1% in the first quarter. Pinkerton Retirement Specialists LLC now owns 49,559 shares of the business services provider's stock worth $4,109,000 after buying an additional 1,952 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OMC shares. 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. UBS Group dropped their price objective on Omnicom Group from $117.00 to $104.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Citigroup reissued a "buy" rating and issued a $103.00 target price on shares of Omnicom Group in a research report on Tuesday, April 15th. Wells Fargo & Company reduced their price target on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a research report on Monday, June 23rd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $94.43.

Omnicom Group Stock Performance

Shares of OMC traded down $3.20 on Thursday, reaching $70.85. The company's stock had a trading volume of 4,899,761 shares, compared to its average volume of 2,733,321. The stock's 50 day simple moving average is $73.07 and its two-hundred day simple moving average is $78.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 0.87. The stock has a market capitalization of $13.82 billion, a P/E ratio of 10.17, a PEG ratio of 1.56 and a beta of 0.92. 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 issued its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.03. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 34.16%. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.95 EPS. Research analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 10th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Tuesday, June 10th. Omnicom Group's dividend payout ratio (DPR) is currently 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.