Schechter Investment Advisors LLC Sells 454 Shares of WPP plc (NYSE:WPP)

Schechter Investment Advisors LLC lowered its position in shares of WPP plc (NYSE:WPP) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,362 shares of the business services provider’s stock after selling 454 shares during the quarter. Schechter Investment Advisors LLC’s holdings in WPP were worth $1,064,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of WPP by 3.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 27,982 shares of the business services provider’s stock worth $1,832,000 after purchasing an additional 963 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of WPP by 67.6% in the first quarter. American Century Companies Inc. now owns 14,658 shares of the business services provider’s stock worth $960,000 after purchasing an additional 5,913 shares during the last quarter. Citigroup Inc. increased its holdings in shares of WPP by 12.4% in the first quarter. Citigroup Inc. now owns 6,060 shares of the business services provider’s stock worth $397,000 after purchasing an additional 668 shares during the last quarter. Sei Investments Co. increased its holdings in shares of WPP by 9.8% in the first quarter. Sei Investments Co. now owns 3,811 shares of the business services provider’s stock worth $250,000 after purchasing an additional 340 shares during the last quarter. Finally, Mariner LLC increased its holdings in shares of WPP by 12.3% in the first quarter. Mariner LLC now owns 17,421 shares of the business services provider’s stock worth $1,140,000 after purchasing an additional 1,909 shares during the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP Stock Performance

WPP stock opened at $46.79 on Thursday. The business has a fifty day moving average of $47.10 and a two-hundred day moving average of $45.98. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.86 and a current ratio of 0.86. WPP plc has a twelve month low of $41.13 and a twelve month high of $60.37.

WPP Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.244 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a yield of 5.3%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. UBS Group cut WPP from a “buy” rating to a “sell” rating in a report on Thursday, January 11th. StockNews.com raised WPP from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. cut WPP from an “overweight” rating to a “neutral” rating in a research note on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.00.

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.