Bulltick Wealth Management LLC Decreases Holdings in Vodafone Group PLC (NASDAQ:VOD)

Key Points

• Bulltick Wealth Management LLC significantly reduced its holdings in Vodafone Group PLC by 95.4%, now owning just 28,582 shares valued at $268,000 after selling 596,626 shares in the first quarter.
• Institutional investors and hedge funds collectively own 7.84% of Vodafone's stock, with other notable shifts in holdings by firms like Wellington Management and Barclays, indicating changing investor sentiment.
• Recent analyst ratings for Vodafone Group are mixed, with the consensus rating at "Hold" and a price target set at $136.00, reflecting cautious outlooks from firms like Morgan Stanley and Goldman Sachs.

Bulltick Wealth Management LLC cut its stake in shares of Vodafone Group PLC (NASDAQ:VOD - Free Report) by 95.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,582 shares of the cell phone carrier's stock after selling 596,626 shares during the period. Bulltick Wealth Management LLC's holdings in Vodafone Group were worth $268,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of Vodafone Group during the 4th quarter valued at $970,000. Geode Capital Management LLC grew its position in shares of Vodafone Group by 39.7% during the 4th quarter. Geode Capital Management LLC now owns 611,461 shares of the cell phone carrier's stock valued at $5,191,000 after acquiring an additional 173,816 shares during the period. Savvy Advisors Inc. bought a new stake in shares of Vodafone Group during the 4th quarter valued at $89,000. Barclays PLC grew its position in shares of Vodafone Group by 57,500.0% during the 4th quarter. Barclays PLC now owns 29,952 shares of the cell phone carrier's stock valued at $254,000 after acquiring an additional 29,900 shares during the period. Finally, Mariner LLC grew its position in shares of Vodafone Group by 5.3% during the 4th quarter. Mariner LLC now owns 900,477 shares of the cell phone carrier's stock valued at $7,645,000 after acquiring an additional 45,669 shares during the period. 7.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. 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 initiated coverage on shares of Vodafone Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating for the company. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of Vodafone Group in a report on Wednesday, April 23rd. Finally, Berenberg Bank raised shares of Vodafone Group to a "hold" rating in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $136.00.

Vodafone Group Price Performance

Vodafone Group stock traded up $0.11 during mid-day trading on Wednesday, hitting $11.65. The stock had a trading volume of 4,892,037 shares, compared to its average volume of 7,095,312. The firm's 50 day moving average is $10.76 and its 200 day moving average is $9.73. Vodafone Group PLC has a one year low of $8.00 and a one year high of $11.68. The firm has a market capitalization of $28.27 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.55 and a beta of 0.62. The company has a current ratio of 1.26, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85.

Vodafone Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, June 6th were issued a dividend of $0.2355 per share. This represents a dividend yield of 660.0%. The ex-dividend date of this dividend was Friday, June 6th. Vodafone Group's dividend payout ratio is 42.98%.

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.