Sierra Summit Advisors LLC Purchases 701 Shares of Omnicom Group Inc. (NYSE:OMC)

Sierra Summit Advisors LLC lifted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 11.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,834 shares of the business services provider’s stock after purchasing an additional 701 shares during the period. Sierra Summit Advisors LLC’s holdings in Omnicom Group were worth $613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in OMC. Frazier Financial Advisors LLC acquired a new stake in Omnicom Group during the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. bought a new position in shares of Omnicom Group during the fourth quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Omnicom Group during the second quarter worth $33,000. Innealta Capital LLC bought a new stake in shares of Omnicom Group in the second quarter worth $33,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Omnicom Group by 47.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 429 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 139 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OMC. UBS Group increased their price target on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Macquarie restated an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a research report on Wednesday, July 17th. Finally, Bank of America increased their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average target price of $106.30.

Insider Activity

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the transaction, the director now owns 10,356 shares in the company, valued at $941,153.28. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Stock Up 1.4 %

Shares of NYSE:OMC opened at $99.97 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $102.13. The business’s 50 day simple moving average is $95.43 and its two-hundred day simple moving average is $93.62. The firm has a market cap of $19.58 billion, a P/E ratio of 13.51, a PEG ratio of 2.27 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same period last year, the business earned $1.81 EPS. Omnicom Group’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts forecast that Omnicom Group Inc. will post 7.95 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

About Omnicom Group

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.