Integrated Wealth Concepts LLC Buys 81,393 Shares of Vodafone Group PLC $VOD

Key Points

• Integrated Wealth Concepts LLC increased its Vodafone Group position by 313.1% in the second quarter, purchasing 81,393 additional shares and bringing its holdings to 107,388 shares valued at approximately $1.42 million.
• Several other institutional investors also raised or initiated positions, though institutional investors and hedge funds collectively own only 7.84% of Vodafone’s stock.
• Vodafone shares opened at $17.46, near their 52-week high, while analysts remain divided: the stock has a consensus “Hold” rating and an average price target of $10.57.

Integrated Wealth Concepts LLC increased its position in Vodafone Group PLC (NASDAQ:VOD - Free Report) by 313.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,388 shares of the cell phone carrier's stock after buying an additional 81,393 shares during the period. Integrated Wealth Concepts LLC's holdings in Vodafone Group were worth $1,420,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in VOD. RFG Advisory LLC acquired a new stake in Vodafone Group in the second quarter valued at approximately $451,000. NewEdge Advisors LLC raised its position in shares of Vodafone Group by 12.2% during the second quarter. NewEdge Advisors LLC now owns 22,786 shares of the cell phone carrier's stock worth $301,000 after purchasing an additional 2,469 shares during the period. IFP Advisors Inc lifted its holdings in shares of Vodafone Group by 580.5% in the 2nd quarter. IFP Advisors Inc now owns 10,582 shares of the cell phone carrier's stock worth $140,000 after purchasing an additional 9,027 shares in the last quarter. Corient Private Wealth LP grew its position in Vodafone Group by 12.0% in the 2nd quarter. Corient Private Wealth LP now owns 125,698 shares of the cell phone carrier's stock valued at $1,665,000 after purchasing an additional 13,503 shares during the period. Finally, Tucker Asset Management LLC bought a new stake in Vodafone Group during the 2nd quarter valued at $403,000. 7.84% of the stock is owned by institutional investors and hedge funds.

Vodafone Group Trading Down 1.2%

NASDAQ VOD opened at $17.46 on Thursday. The company has a fifty day moving average price of $16.04 and a 200-day moving average price of $15.28. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.84. Vodafone Group PLC has a 1 year low of $11.12 and a 1 year high of $17.71.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on VOD shares. The Goldman Sachs Group raised shares of Vodafone Group from a "sell" rating to a "buy" rating in a research note on Friday, September 4th. New Street Research raised shares of Vodafone Group from a "neutral" rating to a "buy" rating in a research report on Friday, July 10th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Vodafone Group in a research report on Tuesday, September 1st. Wall Street Zen upgraded Vodafone Group from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Barclays lowered Vodafone Group from an "overweight" rating to an "equal weight" rating in a report on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Vodafone Group presently has a consensus rating of "Hold" and an average target price of $10.57.

Vodafone Group Company Profile

Vodafone Group Plc is a British multinational telecommunications company that provides mobile and fixed-line connectivity, broadband, voice, messaging and related digital services. Its offerings serve individual consumers, households, businesses and public-sector organizations, with services delivered through local Vodafone operations and partner networks.

The company also provides enterprise communications and technology solutions, including cloud and hosting services, cybersecurity, the Internet of Things, unified communications and managed connectivity.

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