Wpp Plc (WPPGY) Stake Lowered by Harding Loevner LP

Harding Loevner LP reduced its stake in Wpp Plc (NASDAQ:WPPGY) by 7.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,600,844 shares of the business services provider’s stock after selling 135,408 shares during the quarter. Harding Loevner LP owned 0.63% of Wpp Plc worth $168,745,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP increased its stake in Wpp Plc by 56.4% during the 2nd quarter. Quantbot Technologies LP now owns 1,965 shares of the business services provider’s stock worth $207,000 after buying an additional 709 shares during the period. M&T Bank Corp increased its stake in Wpp Plc by 19.0% during the 2nd quarter. M&T Bank Corp now owns 9,635 shares of the business services provider’s stock worth $1,016,000 after buying an additional 1,538 shares during the period. WESPAC Advisors SoCal LLC increased its stake in Wpp Plc by 3.4% during the 2nd quarter. WESPAC Advisors SoCal LLC now owns 1,500 shares of the business services provider’s stock worth $158,000 after buying an additional 50 shares during the period. MML Investors Services LLC increased its stake in Wpp Plc by 14.8% during the 2nd quarter. MML Investors Services LLC now owns 2,499 shares of the business services provider’s stock worth $263,000 after buying an additional 322 shares during the period. Finally, D.A. Davidson & CO. increased its stake in Wpp Plc by 22.9% during the 2nd quarter. D.A. Davidson & CO. now owns 9,210 shares of the business services provider’s stock worth $970,000 after buying an additional 1,714 shares during the period. Hedge funds and other institutional investors own 3.80% of the company’s stock.

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Shares of Wpp Plc (NASDAQ WPPGY) traded up 1.60% during midday trading on Friday, hitting $95.33. 166,156 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $96.65 and its 200-day moving average is $104.17. Wpp Plc has a 1-year low of $89.40 and a 1-year high of $121.06. The stock has a market cap of $24.14 billion, a PE ratio of 10.62 and a beta of 1.21.

Wpp Plc (NASDAQ:WPPGY) last posted its quarterly earnings data on Wednesday, August 23rd. The business services provider reported $3.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $3.02. Analysts predict that Wpp Plc will post $9.39 earnings per share for the current fiscal year.

The company also recently disclosed a semiannual dividend, which will be paid on Monday, November 6th. Stockholders of record on Friday, October 6th will be paid a dividend of $1.4532 per share. The ex-dividend date is Thursday, October 5th. This represents a dividend yield of 3.15%.

Several equities research analysts recently weighed in on the stock. ValuEngine downgraded shares of Wpp Plc from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub downgraded shares of Wpp Plc from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Zacks Investment Research downgraded shares of Wpp Plc from a “buy” rating to a “sell” rating in a research note on Tuesday, June 20th. UBS AG assumed coverage on shares of Wpp Plc in a research note on Tuesday, June 13th. They set a “buy” rating on the stock. Finally, BNP Paribas downgraded shares of Wpp Plc from an “outperform” rating to an “underperform” rating in a research note on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $121.50.

Wpp Plc Company Profile

WPP PLC is a parent company that, through its subsidiaries, is engaged in the provision of communications and marketing services worldwide. The Company has four segments: Advertising and Media Investment Management; Consumer Insight (formerly Information, Insight & Consultancy); Public Relations & Public Affairs, and Branding & Identity, Healthcare and Specialist Communications, which includes WPP Digital and direct, digital, promotional and relationship marketing.

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Institutional Ownership by Quarter for Wpp Plc (NASDAQ:WPPGY)

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