Hsbc Holdings PLC Acquires Shares of 25,000 WPP plc (NYSE:WPP)

Hsbc Holdings PLC bought a new position in WPP plc (NYSE:WPP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,000 shares of the business services provider's stock, valued at approximately $1,287,000.

Several other hedge funds have also modified their holdings of WPP. Invesco Ltd. lifted its position in WPP by 11.9% during the fourth quarter. Invesco Ltd. now owns 1,623,960 shares of the business services provider's stock valued at $83,472,000 after acquiring an additional 172,212 shares during the last quarter. Raymond James Financial Inc. purchased a new position in WPP during the 4th quarter worth $8,724,000. QRG Capital Management Inc. purchased a new position in WPP during the 4th quarter worth $202,000. Sei Investments Co. increased its position in WPP by 21.0% during the 4th quarter. Sei Investments Co. now owns 20,476 shares of the business services provider's stock valued at $1,053,000 after buying an additional 3,551 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in WPP by 41.4% in the fourth quarter. HighTower Advisors LLC now owns 27,798 shares of the business services provider's stock valued at $1,429,000 after buying an additional 8,140 shares during the last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.

WPP Trading Up 0.0 %

WPP traded up $0.01 during midday trading on Monday, hitting $39.16. 151,178 shares of the company were exchanged, compared to its average volume of 203,724. The company's 50 day simple moving average is $38.11 and its 200 day simple moving average is $46.33. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 6.56, a price-to-earnings-growth ratio of 7.06 and a beta of 1.06. WPP plc has a 1-year low of $31.52 and a 1-year high of $57.37.

WPP Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, July 7th. Shareholders of record on Friday, June 6th will be issued a $0.9728 dividend. The ex-dividend date is Friday, June 6th. This is an increase from WPP's previous semi-annual dividend of $0.95. This represents a yield of 6.2%. WPP's payout ratio is presently 8.04%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WPP shares. The Goldman Sachs Group assumed coverage on shares of WPP in a research report on Wednesday, March 26th. They issued a "neutral" rating for the company. Barclays downgraded shares of WPP from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 28th. Finally, Kepler Capital Markets upgraded WPP from a "hold" rating to a "buy" rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, WPP presently has a consensus rating of "Moderate Buy".

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.