Charles Schwab Investment Management Inc. Has $973,000 Stock Holdings in WPP plc (NYSE:WPP)

Charles Schwab Investment Management Inc. lifted its position in shares of WPP plc (NYSE:WPP) by 18.5% during the fourth quarter, HoldingsChannel reports. The firm owned 18,937 shares of the business services provider’s stock after buying an additional 2,956 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in WPP were worth $973,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in WPP by 453.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock worth $61,000 after buying an additional 966 shares during the period. GAMMA Investing LLC increased its holdings in shares of WPP by 92.4% in 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. Wilmington Savings Fund Society FSB acquired a new stake in shares of WPP during the third quarter worth about $84,000. QRG Capital Management Inc. bought a new position in shares of WPP during the 4th quarter valued at about $202,000. Finally, Blue Trust Inc. lifted its holdings in shares of WPP by 14.1% during the 4th quarter. Blue Trust Inc. now owns 4,024 shares of the business services provider’s stock valued at $206,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

Analyst Ratings Changes

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

WPP Stock Performance

Shares of WPP stock opened at $38.41 on Monday. The firm has a market cap of $8.29 billion, a PE ratio of 6.43, a P/E/G ratio of 7.06 and a beta of 1.20. The business’s 50 day simple moving average is $44.34 and its 200 day simple moving average is $49.05. WPP plc has a 52-week low of $38.25 and a 52-week high of $57.37.

WPP Increases Dividend

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

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.