Hsbc Holdings PLC Invests $1.29 Million in WPP plc (NYSE:WPP)

Hsbc Holdings PLC acquired a new position in shares of WPP plc (NYSE:WPP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 25,000 shares of the business services provider’s stock, valued at approximately $1,287,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in WPP during the third quarter worth about $84,000. JPMorgan Chase & Co. boosted its stake in WPP by 231.9% in the third quarter. JPMorgan Chase & Co. now owns 5,532 shares of the business services provider’s stock worth $283,000 after buying an additional 3,865 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of WPP by 92.4% during the fourth quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock worth $64,000 after acquiring an additional 599 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in shares of WPP by 5.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 5,105 shares of the business services provider’s stock worth $262,000 after acquiring an additional 251 shares during the last quarter. Finally, HF Advisory Group LLC lifted its holdings in shares of WPP by 3.9% in the 4th quarter. HF Advisory Group LLC now owns 6,928 shares of the business services provider’s stock worth $356,000 after acquiring an additional 260 shares during the last quarter. 4.34% of the stock is currently owned by hedge funds and other institutional investors.

WPP Stock Up 2.3 %

NYSE:WPP opened at $39.16 on Friday. The firm has a market capitalization of $8.45 billion, a P/E ratio of 6.56, a P/E/G ratio of 7.06 and a beta of 1.06. The company has a fifty day moving average of $38.11 and a 200 day moving average of $46.39. WPP plc has a 52 week low of $31.52 and a 52 week high of $57.37.

WPP Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.9728 per share. This represents a dividend yield of 6.2%. This is an increase from WPP’s previous semi-annual dividend of $0.95. The ex-dividend date is Friday, June 6th. WPP’s dividend payout ratio is 8.04%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WPP shares. Kepler Capital Markets upgraded shares of WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. Barclays downgraded WPP from an “overweight” rating to an “equal weight” rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group initiated coverage on WPP in a report on Wednesday, March 26th. They set a “neutral” rating for the company. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

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.