Ballentine Partners LLC Decreases Stock Holdings in WPP plc (NYSE:WPP)

Ballentine Partners LLC reduced its position in shares of WPP plc (NYSE:WPP) by 7.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,641 shares of the business services provider’s stock after selling 467 shares during the period. Ballentine Partners LLC’s holdings in WPP were worth $258,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Caprock Group LLC bought a new stake in shares of WPP in the 2nd quarter worth approximately $294,000. Ceera Investments LLC bought a new stake in WPP in the second quarter valued at $459,000. Natixis Advisors LLC increased its position in WPP by 5.0% during the 2nd quarter. Natixis Advisors LLC now owns 62,632 shares of the business services provider’s stock valued at $2,867,000 after purchasing an additional 2,964 shares during the period. Rothschild Investment LLC bought a new position in WPP in the 2nd quarter worth $80,000. Finally, Mezzasalma Advisors LLC purchased a new stake in shares of WPP in the 2nd quarter worth about $226,000. 4.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of WPP from a “hold” rating to a “buy” rating in a research note on Sunday. Citigroup raised WPP to a “strong-buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, WPP currently has an average rating of “Hold” and a consensus target price of $46.00.

WPP Stock Up 0.1 %

NYSE:WPP opened at $48.38 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.89 and a quick ratio of 0.86. The firm’s 50-day moving average price is $46.93 and its 200-day moving average price is $47.96. The company has a market capitalization of $10.44 billion, a PE ratio of 8.09, a P/E/G ratio of 6.82 and a beta of 1.29. WPP plc has a 1-year low of $41.13 and a 1-year high of $54.21.

WPP Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 11th will be issued a $0.954 dividend. This represents a yield of 5.7%. The ex-dividend date is Friday, October 11th. This is a boost from WPP’s previous Semi-Annual dividend of $0.24. WPP’s dividend payout ratio is 31.77%.

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.