Wipro Limited $WIT Shares Purchased by Vanguard Personalized Indexing Management LLC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Wipro Limited by 11.3%, owning a total of 1,202,675 shares valued at approximately $3.63 million.
• Wipro recently declared a dividend of $0.057 per share, which represents a high dividend yield of 409.9%.
• Analysts have mixed opinions on Wipro shares, with four analysts rating it as 'Hold' and one as 'Sell', reflecting caution in its outlook.

Vanguard Personalized Indexing Management LLC increased its stake in shares of Wipro Limited (NYSE:WIT - Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,202,675 shares of the information technology services provider's stock after purchasing an additional 122,058 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Wipro were worth $3,634,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Wipro by 5.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,692 shares of the information technology services provider's stock worth $278,000 after purchasing an additional 5,103 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of Wipro during the 1st quarter worth about $90,000. GAMMA Investing LLC raised its position in shares of Wipro by 182.7% during the 1st quarter. GAMMA Investing LLC now owns 65,291 shares of the information technology services provider's stock worth $200,000 after purchasing an additional 42,192 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Wipro by 12.2% during the 2nd quarter. HB Wealth Management LLC now owns 53,733 shares of the information technology services provider's stock worth $162,000 after purchasing an additional 5,856 shares during the last quarter. Finally, Modern Wealth Management LLC acquired a new position in shares of Wipro during the 1st quarter worth about $612,000. Institutional investors and hedge funds own 2.36% of the company's stock.

Wipro Price Performance

Shares of NYSE WIT opened at $2.74 on Wednesday. The company has a 50 day simple moving average of $2.73 and a 200-day simple moving average of $2.85. The company has a market capitalization of $28.65 billion, a P/E ratio of 17.65 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 announced its quarterly earnings results on Thursday, July 17th. The information technology services provider reported $0.04 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.04. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $219.23 billion. Wipro had a net margin of 15.07% and a return on equity of 15.94%. As a group, research analysts expect that Wipro Limited will post 0.14 EPS for the current year.

Wipro Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on WIT shares. Morgan Stanley upgraded shares of Wipro from an "underweight" rating to an "equal weight" rating in a report on Friday, June 20th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Wipro in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.