27,473 Shares in Vodafone Group PLC $VOD Purchased by Naviter Wealth LLC

Key Points

• Naviter Wealth LLC has acquired 27,473 shares of Vodafone Group PLC, valued around $294,000, indicating growing interest in the telecommunications sector.
• Several hedge funds, including ACR Alpine Capital Research LLC and Oppenheimer Asset Management, have increased their stakes in Vodafone, reflecting positive sentiment among institutional investors.
• Vodafone Group has received mixed ratings from analysts, with one "Buy", four "Hold", and three "Sell" ratings, leading to a consensus target price of $136.00.

Naviter Wealth LLC purchased a new position in Vodafone Group PLC (NASDAQ:VOD - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 27,473 shares of the cell phone carrier's stock, valued at approximately $294,000.

A number of other hedge funds have also bought and sold shares of the company. ACR Alpine Capital Research LLC grew its stake in Vodafone Group by 16.8% in the first quarter. ACR Alpine Capital Research LLC now owns 25,696,928 shares of the cell phone carrier's stock worth $240,780,000 after purchasing an additional 3,690,617 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Vodafone Group by 18.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,998,450 shares of the cell phone carrier's stock valued at $56,205,000 after acquiring an additional 944,189 shares during the period. Envestnet Asset Management Inc. boosted its stake in Vodafone Group by 1.3% in the first quarter. Envestnet Asset Management Inc. now owns 5,499,770 shares of the cell phone carrier's stock valued at $51,533,000 after acquiring an additional 69,986 shares during the period. Royal Bank of Canada boosted its stake in Vodafone Group by 5.4% in the first quarter. Royal Bank of Canada now owns 3,117,008 shares of the cell phone carrier's stock valued at $29,207,000 after acquiring an additional 159,985 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in Vodafone Group by 272.9% in the first quarter. Oppenheimer & Co. Inc. now owns 2,253,059 shares of the cell phone carrier's stock valued at $21,111,000 after acquiring an additional 1,648,879 shares during the period. 7.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Weiss Ratings restated a "sell (d+)" rating on shares of Vodafone Group in a research note on Wednesday, October 8th. Berenberg Bank upgraded Vodafone Group to a "hold" rating in a research note on Thursday, June 26th. The Goldman Sachs Group downgraded Vodafone Group from a "neutral" rating to a "sell" rating and set a $136.00 target price for the company. in a research note on Thursday, July 31st. Morgan Stanley assumed coverage on Vodafone Group in a report on Wednesday, July 2nd. They set an "equal weight" rating on the stock. Finally, Zacks Research raised Vodafone Group to a "hold" rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $136.00.

Vodafone Group Price Performance

Shares of NASDAQ:VOD opened at $11.35 on Wednesday. Vodafone Group PLC has a 12 month low of $8.00 and a 12 month high of $12.06. The stock has a market cap of $27.23 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 0.53 and a beta of 0.62. The stock's 50 day moving average price is $11.60 and its 200 day moving average price is $10.57. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.26 and a quick ratio of 1.23.

Vodafone Group Profile

Vodafone Group Public Limited Company provides telecommunication services in Europe and internationally. It offers mobile connectivity services comprising end-to-end services for mobile voice and data, messaging, device management, BYOx, and telecoms management, as well as professional and consulting services; and fixed line connectivity, such as fixed voice and data, broadband, software-defined networks, managed WAN, LAN, ethernet, and satellite; and financial services, as well as business and merchant services.

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