Omnicom Group Inc. (NYSE:OMC) Shares Sold by abrdn plc

abrdn plc cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,457 shares of the business services provider's stock after selling 10,695 shares during the quarter. abrdn plc's holdings in Omnicom Group were worth $5,730,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OMC. Czech National Bank raised its holdings in shares of Omnicom Group by 6.8% in the 3rd quarter. Czech National Bank now owns 39,855 shares of the business services provider's stock valued at $4,121,000 after purchasing an additional 2,536 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Omnicom Group by 7.4% in the 3rd quarter. Mather Group LLC. now owns 2,413 shares of the business services provider's stock valued at $250,000 after purchasing an additional 166 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of Omnicom Group in the 3rd quarter valued at $292,000. Brookstone Capital Management acquired a new stake in Omnicom Group during the 3rd quarter worth $294,000. Finally, Wedmont Private Capital raised its stake in Omnicom Group by 13.9% during the 3rd quarter. Wedmont Private Capital now owns 4,379 shares of the business services provider's stock worth $442,000 after acquiring an additional 534 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Omnicom Group from $119.00 to $116.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Wells Fargo & Company cut their price target on shares of Omnicom Group from $110.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Tuesday, December 10th. UBS Group lifted their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Macquarie reiterated an "outperform" rating and set a $120.00 price target on shares of Omnicom Group in a research note on Wednesday, December 11th. Finally, Barclays cut their price target on shares of Omnicom Group from $121.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $108.25.

Omnicom Group Stock Performance

Omnicom Group stock traded down $1.16 during midday trading on Wednesday, hitting $81.25. 2,826,898 shares of the company's stock were exchanged, compared to its average volume of 2,461,800. Omnicom Group Inc. has a 12-month low of $80.31 and a 12-month high of $107.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.86 and a current ratio of 1.00. The stock has a market cap of $15.96 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 1.94 and a beta of 0.97. The firm's 50 day simple moving average is $87.58 and its 200 day simple moving average is $95.85.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same quarter in the prior year, the company posted $2.20 EPS. Equities research analysts predict that Omnicom Group Inc. will post 8.32 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Friday, December 20th. Omnicom Group's payout ratio is 37.58%.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.