Cabot Wealth Management Inc. Sells 7,173 Shares of Omnicom Group Inc. (NYSE:OMC)

Cabot Wealth Management Inc. lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,015 shares of the business services provider’s stock after selling 7,173 shares during the period. Omnicom Group accounts for approximately 1.6% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its 25th biggest holding. Cabot Wealth Management Inc. owned approximately 0.07% of Omnicom Group worth $12,219,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in OMC. World Investment Advisors LLC increased its position in Omnicom Group by 209.7% during the 3rd quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider’s stock worth $2,720,000 after buying an additional 17,815 shares during the period. Worldquant Millennium Advisors LLC bought a new position in Omnicom Group during the third quarter worth about $713,000. Thrivent Financial for Lutherans increased its position in Omnicom Group by 40.9% during the third quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider’s stock worth $3,077,000 after acquiring an additional 8,643 shares during the period. Assetmark Inc. boosted its holdings in Omnicom Group by 2.0% in the 3rd quarter. Assetmark Inc. now owns 489,039 shares of the business services provider’s stock valued at $50,562,000 after purchasing an additional 9,774 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Omnicom Group by 19.7% in the 3rd quarter. Franklin Resources Inc. now owns 231,068 shares of the business services provider’s stock valued at $23,860,000 after purchasing an additional 38,022 shares during the period. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $82.27 on Friday. The firm has a 50 day simple moving average of $85.44 and a 200 day simple moving average of $95.18. The company has a market cap of $16.16 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.94 and a beta of 0.97. Omnicom Group Inc. has a one year low of $80.31 and a one year high of $107.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.90.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same period in the previous year, the business posted $2.20 earnings per share. Research analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.40%. Omnicom Group’s dividend payout ratio (DPR) is presently 37.58%.

Analyst Ratings Changes

Several brokerages have recently commented on OMC. Barclays lowered their target price on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. cut their target price on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Wells Fargo & Company decreased their price target on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 10th. Finally, Macquarie restated an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.25.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.