HighTower Advisors LLC Buys 8,140 Shares of WPP plc (NYSE:WPP)

HighTower Advisors LLC increased its stake in WPP plc (NYSE:WPP - Free Report) by 41.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,798 shares of the business services provider's stock after purchasing an additional 8,140 shares during the period. HighTower Advisors LLC's holdings in WPP were worth $1,429,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WPP. Assetmark Inc. lifted its stake in WPP by 52,800.0% during the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider's stock worth $27,000 after purchasing an additional 528 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in WPP by 453.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider's stock worth $61,000 after buying an additional 966 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 buying an additional 599 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in WPP during the third quarter valued at approximately $84,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of WPP during the fourth quarter worth approximately $194,000. 4.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WPP has been the topic of several recent research reports. Barclays lowered shares of WPP from an "overweight" rating to an "equal weight" rating in a report on Friday, February 28th. The Goldman Sachs Group initiated coverage on WPP in a research note on Wednesday. They set a "neutral" rating on the stock. Finally, Kepler Capital Markets upgraded WPP from a "hold" rating to a "buy" rating in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy".

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WPP Stock Performance

NYSE:WPP traded down $0.45 during midday trading on Friday, reaching $38.41. 315,103 shares of the stock traded hands, compared to its average volume of 190,091. The company has a fifty day moving average of $44.47 and a 200 day moving average of $49.11. WPP plc has a 12 month low of $38.26 and a 12 month high of $57.37. The stock has a market capitalization of $8.29 billion, a P/E ratio of 6.43, a PEG ratio of 7.06 and a beta of 1.20.

WPP Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 6th will be paid a $0.9728 dividend. The ex-dividend date is Friday, June 6th. This is a boost from WPP's previous semi-annual dividend of $0.95. This represents a dividend yield of 6.2%. WPP's dividend payout ratio (DPR) is presently 8.04%.

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.