State of Alaska Department of Revenue Purchases 770 Shares of Omnicom Group Inc. (NYSE:OMC)

State of Alaska Department of Revenue boosted its stake in Omnicom Group Inc. (NYSE:OMC) by 1.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 42,519 shares of the business services provider’s stock after purchasing an additional 770 shares during the quarter. State of Alaska Department of Revenue’s holdings in Omnicom Group were worth $3,524,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. LifeWealth Investments LLC bought a new stake in shares of Omnicom Group during the 1st quarter valued at $324,000. Wolf Group Capital Advisors purchased a new position in Omnicom Group in the 1st quarter worth about $1,513,000. Mezzasalma Advisors LLC raised its position in Omnicom Group by 3.1% in the 1st quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider’s stock worth $443,000 after buying an additional 159 shares during the last quarter. Berkshire Bank raised its position in Omnicom Group by 24.9% in the 1st quarter. Berkshire Bank now owns 3,233 shares of the business services provider’s stock worth $268,000 after buying an additional 645 shares during the last quarter. Finally, Inscription Capital LLC purchased a new stake in shares of Omnicom Group during the 1st quarter valued at about $185,000. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Up 1.0%

Shares of NYSE:OMC opened at $70.13 on Friday. The stock has a 50 day moving average of $73.82 and a 200 day moving average of $80.53. The company has a market cap of $13.68 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93. 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.

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

Omnicom Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on OMC shares. Barclays reduced their price target on shares of Omnicom Group from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. UBS Group reduced their price target on shares of Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. JPMorgan Chase & Co. reduced their price target on shares of Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their price target on shares of 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. Finally, Citigroup reaffirmed a “buy” rating and set a $103.00 price target on shares of Omnicom Group in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.29.

Omnicom Group 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.