Raymond James Financial Services Advisors Inc. Sells 30,251 Shares of WPP plc (NYSE:WPP)

Raymond James Financial Services Advisors Inc. decreased its position in shares of WPP plc (NYSE:WPP - Free Report) by 82.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,490 shares of the business services provider's stock after selling 30,251 shares during the period. Raymond James Financial Services Advisors Inc.'s holdings in WPP were worth $309,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WPP. Vestmark Advisory Solutions Inc. increased its holdings in shares of WPP by 1.4% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 17,344 shares of the business services provider's stock worth $773,000 after purchasing an additional 240 shares during the period. NewEdge Wealth LLC increased its holdings in shares of WPP by 1.4% during the 3rd quarter. NewEdge Wealth LLC now owns 17,344 shares of the business services provider's stock worth $773,000 after purchasing an additional 240 shares during the period. Natixis Advisors L.P. increased its holdings in shares of WPP by 0.4% during the 3rd quarter. Natixis Advisors L.P. now owns 66,272 shares of the business services provider's stock worth $2,955,000 after purchasing an additional 268 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in shares of WPP by 3.0% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 9,259 shares of the business services provider's stock worth $440,000 after purchasing an additional 273 shares during the period. Finally, CWM LLC increased its holdings in shares of WPP by 48.2% during the 3rd quarter. CWM LLC now owns 864 shares of the business services provider's stock worth $39,000 after purchasing an additional 281 shares during the period. Institutional investors and hedge funds own 4.34% of the company's stock.

WPP Trading Up 1.0 %

WPP stock traded up $0.50 during trading hours on Tuesday, hitting $49.63. 249,782 shares of the stock were exchanged, compared to its average volume of 170,198. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.86. WPP plc has a 12 month low of $41.13 and a 12 month high of $60.05. The business's 50-day moving average is $46.73 and its two-hundred day moving average is $46.25.

WPP Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.244 per share. The ex-dividend date is Friday, June 7th. This represents a yield of 5.3%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group cut shares of WPP from a "buy" rating to a "sell" rating in a research note on Thursday, January 11th. StockNews.com raised shares of WPP from a "hold" rating to a "buy" rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $46.00.

About WPP

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.