Montag A & Associates Inc. Decreases Stake in Wpp Plc (NYSE:WPP)

Montag A & Associates Inc. cut its holdings in Wpp Plc (NYSE:WPP) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,400 shares of the business services provider’s stock after selling 400 shares during the quarter. Montag A & Associates Inc.’s holdings in WPP were worth $338,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Signaturefd LLC boosted its stake in shares of WPP by 11.9% in the second quarter. Signaturefd LLC now owns 1,715 shares of the business services provider’s stock valued at $108,000 after buying an additional 183 shares in the last quarter. Beacon Financial Group boosted its stake in shares of WPP by 6.1% in the second quarter. Beacon Financial Group now owns 7,100 shares of the business services provider’s stock valued at $447,000 after buying an additional 406 shares in the last quarter. Quest Capital Management Inc. ADV purchased a new stake in shares of WPP in the third quarter valued at approximately $27,000. Advisor Group Inc. boosted its stake in shares of WPP by 20.2% in the second quarter. Advisor Group Inc. now owns 4,089 shares of the business services provider’s stock valued at $258,000 after buying an additional 687 shares in the last quarter. Finally, Nkcfo LLC purchased a new stake in shares of WPP in the second quarter valued at approximately $44,000. Hedge funds and other institutional investors own 3.93% of the company’s stock.

WPP traded up $0.16 during trading on Friday, reaching $64.68. 206,026 shares of the stock were exchanged, compared to its average volume of 171,635. The business’s 50 day moving average price is $61.04 and its two-hundred day moving average price is $60.67. The company has a market capitalization of $17.01 billion, a price-to-earnings ratio of 8.97 and a beta of 1.01. Wpp Plc has a 1 year low of $50.31 and a 1 year high of $64.75.

A number of research firms recently weighed in on WPP. HSBC lifted their price target on WPP from $970.00 to $980.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Liberum Capital reiterated a “buy” rating on shares of WPP in a research report on Friday, October 25th. Shore Capital reiterated a “buy” rating on shares of WPP in a research report on Friday, October 25th. ValuEngine upgraded WPP from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Zacks Investment Research reiterated a “buy” rating and set a $68.00 target price on shares of WPP in a research report on Saturday, October 19th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $884.60.

WPP Company Profile

WPP plc provides various communications services worldwide. The company operates through four segments: Advertising and Media Investment Management; Data Investment Management; Public Relations & Public Affairs; and Branding Consulting, Health & Wellness and Specialist Communications. The Advertising and Media Investment Management segment provides advertising services; and media planning and buying, and specialist sponsorship, and branded entertainment services.

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Institutional Ownership by Quarter for WPP (NYSE:WPP)

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