Wells Fargo & Company MN lowered its stake in Vodafone Group Plc (NASDAQ:VOD) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,213,664 shares of the cell phone carrier’s stock after selling 246,465 shares during the period. Wells Fargo & Company MN’s holdings in Vodafone Group were worth $94,785,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in VOD. OLD Second National Bank of Aurora lifted its position in Vodafone Group by 277.2% during the first quarter. OLD Second National Bank of Aurora now owns 1,339 shares of the cell phone carrier’s stock valued at $25,000 after buying an additional 984 shares during the period. Cornerstone Advisors Inc. raised its position in shares of Vodafone Group by 282.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,380 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 1,019 shares during the last quarter. Sontag Advisory LLC purchased a new position in shares of Vodafone Group in the 4th quarter worth about $26,000. Massey Quick Simon & CO. LLC raised its position in shares of Vodafone Group by 881.1% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 2,227 shares of the cell phone carrier’s stock worth $40,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Heritage Wealth Advisors purchased a new position in shares of Vodafone Group in the 1st quarter worth about $41,000. 7.95% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on VOD. Bank of America raised Vodafone Group from a “neutral” rating to a “buy” rating and set a $18.50 price target for the company in a research report on Wednesday, February 6th. Zacks Investment Research lowered Vodafone Group from a “buy” rating to a “sell” rating in a research report on Friday, April 12th. BidaskClub lowered Vodafone Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 14th. HSBC upgraded Vodafone Group from a “hold” rating to a “buy” rating and set a $15.99 price objective for the company in a report on Friday, May 24th. Finally, Argus reduced their price objective on Vodafone Group to $21.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $23.30.
NASDAQ VOD traded down $0.03 during trading hours on Wednesday, hitting $16.86. The company’s stock had a trading volume of 299,363 shares, compared to its average volume of 5,914,282. Vodafone Group Plc has a 12 month low of $15.53 and a 12 month high of $26.55. The company has a market capitalization of $43.64 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.92 and a beta of 0.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.52 and a current ratio of 1.55.
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Vodafone Group Company Profile
Vodafone Group Plc engages in telecommunication services in Europe, Africa, the Middle East, and the Asia Pacific. The company's consumer products include mobile services, such as call, text, and data; broadband; television offerings and voice; mobile money services through M-pesa; Giga TV, an advanced digital service; and converged communication solutions, such as GigaKombi, Vodafone One Net Enterprise, Vodafone One, and Vodafone Meet Anywhere.
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