WPP (NYSE:WPP) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of WPP (NYSE:WPP) from a hold rating to a buy rating in a research note released on Thursday.

WPP Stock Down 1.2 %

Shares of NYSE WPP traded down $0.51 during trading hours on Thursday, hitting $43.23. 249,113 shares of the stock were exchanged, compared to its average volume of 169,451. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.86 and a current ratio of 0.86. The company’s fifty day simple moving average is $47.66 and its two-hundred day simple moving average is $48.29. WPP has a 1-year low of $41.13 and a 1-year high of $54.21.

WPP Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be given a dividend of $0.954 per share. This is a positive change from WPP’s previous Semi-Annual dividend of $0.24. The ex-dividend date is Friday, October 11th. This represents a dividend yield of 5.7%.

Institutional Trading of WPP

Several large investors have recently made changes to their positions in WPP. Meritage Portfolio Management boosted its position in WPP by 210.3% in the fourth quarter. Meritage Portfolio Management now owns 59,399 shares of the business services provider’s stock valued at $2,826,000 after buying an additional 40,254 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in WPP in the fourth quarter valued at approximately $1,279,000. Bard Financial Services Inc. boosted its position in WPP by 7.7% in the fourth quarter. Bard Financial Services Inc. now owns 97,205 shares of the business services provider’s stock valued at $4,624,000 after buying an additional 6,945 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in WPP by 26.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 120,564 shares of the business services provider’s stock valued at $5,715,000 after buying an additional 24,899 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in WPP by 21.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 18,287 shares of the business services provider’s stock valued at $870,000 after buying an additional 3,281 shares in the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

WPP Company 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.