WPP plc (NYSE:WPP - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $50.18, but opened at $51.85. WPP shares last traded at $51.98, with a volume of 25,947 shares.
Analysts Set New Price Targets
Several research firms have commented on WPP. Citigroup raised shares of WPP to a "strong-buy" rating in a research note on Thursday, August 8th. StockNews.com raised WPP from a "hold" rating to a "buy" rating in a report on Sunday, September 8th.
Check Out Our Latest Stock Analysis on WPP
WPP Stock Up 5.5 %
The company's 50 day moving average price is $49.10 and its 200-day moving average price is $48.94.
WPP Increases Dividend
The business also recently announced a Semi-Annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be issued a $0.954 dividend. This represents a dividend yield of 5.7%. This is a boost from WPP's previous Semi-Annual dividend of $0.24. The ex-dividend date is Friday, October 11th.
Hedge Funds Weigh In On WPP
A number of hedge funds and other institutional investors have recently modified their holdings of WPP. Price T Rowe Associates Inc. MD raised its position in WPP by 26.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 120,564 shares of the business services provider's stock valued at $5,715,000 after buying an additional 24,899 shares during the period. Envestnet Asset Management Inc. increased its stake in WPP by 15.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 199,110 shares of the business services provider's stock valued at $9,115,000 after buying an additional 27,384 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in WPP in the 1st quarter valued at approximately $39,000. Oppenheimer Asset Management Inc. lifted its position in WPP by 9.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,765 shares of the business services provider's stock worth $1,592,000 after buying an additional 2,862 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of WPP by 72.0% during the 2nd quarter. Bank of Montreal Can now owns 191,401 shares of the business services provider's stock valued at $9,247,000 after acquiring an additional 80,102 shares in the last quarter. Institutional investors and hedge funds own 4.34% of the company's stock.
About WPP
(
Get Free Report)
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.
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