Ashton Thomas Private Wealth LLC Cuts Stock Position in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Ashton Thomas Private Wealth LLC cut its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 10.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,081 shares of the business services provider’s stock after selling 1,239 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Interpublic Group of Companies were worth $293,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Voisard Asset Management Group Inc. bought a new stake in Interpublic Group of Companies during the 4th quarter valued at approximately $31,000. International Assets Investment Management LLC bought a new stake in shares of Interpublic Group of Companies during the second quarter valued at approximately $32,000. Quest Partners LLC purchased a new position in shares of Interpublic Group of Companies in the second quarter worth $39,000. Salomon & Ludwin LLC boosted its position in shares of Interpublic Group of Companies by 2,024.6% during the first quarter. Salomon & Ludwin LLC now owns 1,296 shares of the business services provider’s stock worth $42,000 after acquiring an additional 1,235 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Interpublic Group of Companies during the first quarter valued at $42,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IPG has been the topic of several research analyst reports. Bank of America decreased their price target on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Barclays decreased their target price on Interpublic Group of Companies from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Morgan Stanley cut Interpublic Group of Companies from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $34.00 to $28.00 in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price objective on Interpublic Group of Companies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Macquarie cut their target price on shares of Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.88.

Interpublic Group of Companies Stock Performance

NYSE IPG opened at $30.93 on Thursday. The business’s 50 day moving average price is $30.68 and its 200-day moving average price is $30.99. The Interpublic Group of Companies, Inc. has a fifty-two week low of $27.20 and a fifty-two week high of $35.17. The company has a market cap of $11.67 billion, a P/E ratio of 11.01, a P/E/G ratio of 5.20 and a beta of 1.10. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.07.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The business’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 earnings per share. Sell-side analysts predict that The Interpublic Group of Companies, Inc. will post 2.82 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is currently 46.98%.

Interpublic Group of Companies Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.