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

Schechter Investment Advisors LLC trimmed its holdings in WPP plc (NYSE:WPP) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Mondrian Investment Partners LTD raised its holdings in shares of WPP by 5.0% in the second quarter. Mondrian Investment Partners LTD now owns 1,114,886 shares of the business services provider’s stock valued at $58,286,000 after buying an additional 53,000 shares during the last quarter. FMR LLC raised its holdings in shares of WPP by 7.1% in the third quarter. FMR LLC now owns 972,751 shares of the business services provider’s stock valued at $43,365,000 after buying an additional 64,087 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of WPP by 3.4% in the first quarter. Macquarie Group Ltd. now owns 923,843 shares of the business services provider’s stock valued at $54,987,000 after buying an additional 30,259 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of WPP by 7.2% in the third quarter. Royal Bank of Canada now owns 701,277 shares of the business services provider’s stock valued at $31,264,000 after buying an additional 46,840 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of WPP by 1.6% in the third quarter. Morgan Stanley now owns 688,225 shares of the business services provider’s stock valued at $30,681,000 after buying an additional 10,560 shares during the last quarter. 4.34% of the stock is owned by institutional investors.

WPP Price Performance

Shares of WPP opened at $46.79 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.98. The stock has a 50 day simple moving average of $47.10 and a 200 day simple moving average of $45.98. WPP plc has a 52-week low of $41.13 and a 52-week high of $60.37.

WPP Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 7th will be given a $0.244 dividend. The ex-dividend date is Friday, June 7th. This represents a dividend yield of 5.3%.

Analyst Ratings Changes

Several analysts have weighed in 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 report 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 analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $46.00.

About WPP

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.