30,371 Shares in Vodafone Group PLC $VOD Acquired by Modern Wealth Management LLC

Key Points

• Modern Wealth Management LLC acquired 30,371 shares of Vodafone Group PLC, valued at approximately $285,000, marking a new position for the fund in the first quarter.
• A range of hedge funds increased their stakes in Vodafone Group, with ACR Alpine Capital Research LLC raising its stake by 16.8% and Deutsche Bank AG increasing theirs by an extraordinary 63,786.2% in the same quarter.
• Analysts have mixed ratings on Vodafone Group, with Zacks upgrading the stock to "hold," whereas Goldman Sachs downgraded it to "sell" with a price target of $136.00.

Modern Wealth Management LLC acquired a new position in Vodafone Group PLC (NASDAQ:VOD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 30,371 shares of the cell phone carrier's stock, valued at approximately $285,000.

A number of other hedge funds have also added to or reduced their stakes in VOD. ACR Alpine Capital Research LLC raised its stake in Vodafone Group by 16.8% during the 1st quarter. ACR Alpine Capital Research LLC now owns 25,696,928 shares of the cell phone carrier's stock valued at $240,780,000 after buying an additional 3,690,617 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Vodafone Group during the 4th quarter valued at $21,969,000. Oppenheimer & Co. Inc. raised its stake in Vodafone Group by 272.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,253,059 shares of the cell phone carrier's stock valued at $21,111,000 after buying an additional 1,648,879 shares during the last quarter. Deutsche Bank AG raised its stake in Vodafone Group by 63,786.2% during the 1st quarter. Deutsche Bank AG now owns 1,597,156 shares of the cell phone carrier's stock valued at $14,965,000 after buying an additional 1,594,656 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in Vodafone Group by 512.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,396,305 shares of the cell phone carrier's stock valued at $13,076,000 after buying an additional 1,168,435 shares during the last quarter. 7.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VOD shares. Zacks Research upgraded shares of Vodafone Group to a "hold" rating in a research note on Tuesday, August 12th. Wall Street Zen downgraded shares of Vodafone Group from a "buy" rating to a "hold" rating in a research report on Tuesday, May 27th. The Goldman Sachs Group downgraded shares of Vodafone Group from a "neutral" rating to a "sell" rating and set a $136.00 price objective for the company. in a research report on Thursday, July 31st. Morgan Stanley assumed coverage on shares of Vodafone Group in a research report on Wednesday, July 2nd. They set an "equal weight" rating for the company. Finally, Berenberg Bank raised shares of Vodafone Group to a "hold" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $136.00.

Vodafone Group Trading Down 0.3%

Shares of Vodafone Group stock opened at $11.81 on Tuesday. The company has a market capitalization of $28.47 billion, a P/E ratio of 10.36, a P/E/G ratio of 0.57 and a beta of 0.65. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.23 and a current ratio of 1.26. The company has a fifty day moving average of $11.45 and a 200 day moving average of $10.28. Vodafone Group PLC has a fifty-two week low of $8.00 and a fifty-two week high of $12.06.

Vodafone Group Company 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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