WPP (NYSE:WPP) Reaches New 12-Month High – Should You Buy?

WPP plc (NYSE:WPP) shares reached a new 52-week high on Monday . The stock traded as high as $54.24 and last traded at $54.23, with a volume of 54404 shares traded. The stock had previously closed at $53.06.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WPP shares. StockNews.com upgraded WPP from a “hold” rating to a “buy” rating in a report on Sunday, September 8th. Citigroup raised WPP to a “strong-buy” rating in a research note on Thursday, August 8th.

WPP Price Performance

The business’s 50 day moving average is $49.58 and its 200 day moving average is $49.06.

WPP Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 11th will be given a $0.954 dividend. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 11th. This is a boost from WPP’s previous Semi-Annual dividend of $0.24.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in WPP during the 3rd quarter valued at about $1,479,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of WPP by 27.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,509 shares of the business services provider’s stock worth $180,000 after purchasing an additional 753 shares during the period. Blue Trust Inc. grew its position in WPP by 378.4% during the third quarter. Blue Trust Inc. now owns 3,526 shares of the business services provider’s stock valued at $180,000 after purchasing an additional 2,789 shares in the last quarter. Inlet Private Wealth LLC increased its stake in WPP by 53.2% in the 3rd quarter. Inlet Private Wealth LLC now owns 17,700 shares of the business services provider’s stock valued at $906,000 after buying an additional 6,150 shares during the period. Finally, Mezzasalma Advisors LLC lifted its position in WPP by 7.3% in the 3rd quarter. Mezzasalma Advisors LLC now owns 5,291 shares of the business services provider’s stock worth $271,000 after buying an additional 358 shares in the last quarter. 4.34% of the stock is owned by institutional investors and hedge funds.

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.