Hsbc Holdings PLC Invests $1.29 Million in WPP plc (NYSE:WPP)

Hsbc Holdings PLC acquired a new stake in WPP plc (NYSE:WPP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,000 shares of the business services provider's stock, valued at approximately $1,287,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WPP. Wilmington Savings Fund Society FSB bought a new position in shares of WPP during the 3rd quarter worth approximately $84,000. JPMorgan Chase & Co. lifted its position in shares of WPP by 231.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,532 shares of the business services provider's stock valued at $283,000 after acquiring an additional 3,865 shares during the period. GAMMA Investing LLC grew its holdings in WPP by 92.4% in the fourth quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider's stock worth $64,000 after purchasing an additional 599 shares during the period. Aaron Wealth Advisors LLC raised its holdings in shares of WPP by 5.2% during the fourth quarter. Aaron Wealth Advisors LLC now owns 5,105 shares of the business services provider's stock valued at $262,000 after purchasing an additional 251 shares during the period. Finally, HF Advisory Group LLC grew its stake in shares of WPP by 3.9% in the 4th quarter. HF Advisory Group LLC now owns 6,928 shares of the business services provider's stock valued at $356,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 4.34% of the company's stock.

WPP Trading Up 0.3 %

WPP traded up $0.12 during midday trading on Thursday, reaching $38.88. The company's stock had a trading volume of 102,165 shares, compared to its average volume of 204,647. WPP plc has a 1 year low of $31.52 and a 1 year high of $57.37. The stock's 50-day moving average is $37.83 and its 200-day moving average is $46.14. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 7.06 and a beta of 1.04.

WPP Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays cut WPP from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 28th. The Goldman Sachs Group started coverage on WPP in a research note on Wednesday, March 26th. They set a "neutral" rating for the company. Finally, Kepler Capital Markets raised WPP from a "hold" rating to a "buy" rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

WPP Company 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.