Oppenheimer Asset Management Inc. Has $56.21 Million Holdings in Vodafone Group PLC (NASDAQ:VOD)

Oppenheimer Asset Management Inc. lifted its stake in Vodafone Group PLC (NASDAQ:VOD - Free Report) by 18.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,998,450 shares of the cell phone carrier's stock after purchasing an additional 944,189 shares during the period. Vodafone Group accounts for approximately 0.7% of Oppenheimer Asset Management Inc.'s holdings, making the stock its 21st largest holding. Oppenheimer Asset Management Inc. owned about 0.25% of Vodafone Group worth $56,205,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Flagship Harbor Advisors LLC increased its stake in Vodafone Group by 4.9% in the first quarter. Flagship Harbor Advisors LLC now owns 63,810 shares of the cell phone carrier's stock valued at $598,000 after purchasing an additional 2,959 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Vodafone Group by 3.9% in the 1st quarter. QRG Capital Management Inc. now owns 428,215 shares of the cell phone carrier's stock valued at $4,012,000 after buying an additional 15,978 shares during the period. Sowell Financial Services LLC bought a new stake in shares of Vodafone Group in the 1st quarter valued at $1,020,000. Optas LLC acquired a new stake in Vodafone Group during the 1st quarter worth $110,000. Finally, Opal Wealth Advisors LLC bought a new position in Vodafone Group during the first quarter worth about $60,000. 7.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. DZ Bank upgraded Vodafone Group from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Wall Street Zen lowered Vodafone Group from a "buy" rating to a "hold" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Vodafone Group in a research report on Wednesday, April 23rd. Finally, Bank of America cut Vodafone Group from a "buy" rating to a "neutral" rating in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold".

Vodafone Group Stock Up 2.8%

Shares of NASDAQ VOD traded up $0.29 during trading hours on Thursday, hitting $10.66. The company had a trading volume of 17,836,269 shares, compared to its average volume of 9,068,444. The stock has a market capitalization of $26.43 billion, a P/E ratio of 9.35 and a beta of 0.58. Vodafone Group PLC has a 1-year low of $8.00 and a 1-year high of $10.70. The firm's 50 day moving average is $9.88 and its 200-day moving average is $9.12. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 0.85.

Vodafone Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 6th will be paid a $0.2355 dividend. This represents a yield of 6.6%. The ex-dividend date is Friday, June 6th. Vodafone Group's dividend payout ratio is currently 41.23%.

About Vodafone Group

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.