Meritage Portfolio Management Acquires 40,254 Shares of WPP plc (NYSE:WPP)

Meritage Portfolio Management increased its position in WPP plc (NYSE:WPP - Free Report) by 210.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 59,399 shares of the business services provider's stock after purchasing an additional 40,254 shares during the period. Meritage Portfolio Management's holdings in WPP were worth $2,826,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in WPP. CWM LLC raised its stake in WPP by 48.2% during the 3rd quarter. CWM LLC now owns 864 shares of the business services provider's stock valued at $39,000 after acquiring an additional 281 shares during the last quarter. UMB Bank n.a. raised its stake in WPP by 54.0% during the 3rd quarter. UMB Bank n.a. now owns 973 shares of the business services provider's stock valued at $43,000 after acquiring an additional 341 shares during the last quarter. CVA Family Office LLC purchased a new stake in WPP during the 4th quarter valued at approximately $49,000. Bruce G. Allen Investments LLC purchased a new stake in WPP during the 4th quarter valued at approximately $111,000. Finally, Cetera Trust Company N.A purchased a new stake in WPP during the 4th quarter valued at approximately $148,000. 4.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. StockNews.com raised WPP from a "hold" rating to a "buy" rating in a research note on Friday, March 1st. UBS Group cut WPP from a "buy" rating to a "sell" rating in a research report on Thursday, January 11th. One research 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 stock presently has a consensus rating of "Hold" and an average price target of $46.00.

WPP Stock Down 0.3 %

NYSE WPP traded down $0.15 on Thursday, hitting $50.10. 366,131 shares of the company's stock were exchanged, compared to its average volume of 173,980. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.86 and a current ratio of 0.86. The firm's 50-day moving average price is $46.80 and its two-hundred day moving average price is $46.31. WPP plc has a fifty-two week low of $41.13 and a fifty-two week high of $59.70.

WPP Cuts Dividend

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

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.