Cabot Wealth Management Inc. Cuts Stock Position in Omnicom Group Inc. (NYSE:OMC)

Cabot Wealth Management Inc. lessened its holdings in Omnicom Group Inc. (NYSE:OMC) by 4.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 135,599 shares of the business services provider’s stock after selling 6,416 shares during the quarter. Omnicom Group makes up 1.4% of Cabot Wealth Management Inc.’s portfolio, making the stock its 29th largest position. Cabot Wealth Management Inc.’s holdings in Omnicom Group were worth $11,242,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Meriwether Wealth & Planning LLC increased its stake in Omnicom Group by 17.5% in the 1st quarter. Meriwether Wealth & Planning LLC now owns 6,418 shares of the business services provider’s stock worth $532,000 after buying an additional 957 shares in the last quarter. Blue Trust Inc. increased its stake in Omnicom Group by 22.0% in the 1st quarter. Blue Trust Inc. now owns 2,289 shares of the business services provider’s stock worth $190,000 after buying an additional 413 shares in the last quarter. Centennial Wealth Advisory LLC increased its stake in Omnicom Group by 20.5% in the 1st quarter. Centennial Wealth Advisory LLC now owns 6,054 shares of the business services provider’s stock worth $502,000 after buying an additional 1,032 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Omnicom Group by 1.8% during the first quarter. State of Alaska Department of Revenue now owns 42,519 shares of the business services provider’s stock valued at $3,524,000 after purchasing an additional 770 shares in the last quarter. Finally, LifeWealth Investments LLC purchased a new position in shares of Omnicom Group during the first quarter valued at about $324,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 1.0%

Shares of NYSE:OMC opened at $70.13 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The company has a 50-day moving average price of $73.82 and a 200 day moving average price of $80.53. The company has a market cap of $13.68 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 1.67 and a beta of 0.93.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. As a group, equities research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Tuesday, June 10th. Omnicom Group’s payout ratio is 38.30%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barclays cut their price objective on Omnicom Group from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their price objective on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. UBS Group cut their price objective on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Citigroup restated a “buy” rating and set a $103.00 price objective on shares of Omnicom Group in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company cut their price objective on Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Omnicom Group has an average rating of “Moderate Buy” and a consensus price target of $101.29.

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.