Pictet Asset Management Holding SA Has $11.86 Million Stock Position in VEON Ltd. $VEON

Key Points

• Pictet Asset Management raised its stake in VEON by 77.6% in Q4 to 225,643 shares valued at $11.86 million, representing about 0.33% of the company; institutional investors and hedge funds own roughly 21.3% of the stock.
• VEON is trading near $50 (12‑month range $34.55–$64.00) with a market cap of $3.72 billion and a P/E of 6.77, while Wall Street’s average rating is Buy with an average price target of $67 despite mixed recent analyst notes.

Pictet Asset Management Holding SA raised its holdings in VEON Ltd. (NASDAQ:VEON - Free Report) by 77.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 225,643 shares of the Wireless communications provider's stock after acquiring an additional 98,618 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.33% of VEON worth $11,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Personal CFO Solutions LLC increased its position in VEON by 7.0% in the 4th quarter. Personal CFO Solutions LLC now owns 4,097 shares of the Wireless communications provider's stock valued at $215,000 after acquiring an additional 268 shares during the period. Tidal Investments LLC increased its position in VEON by 4.8% in the 2nd quarter. Tidal Investments LLC now owns 7,288 shares of the Wireless communications provider's stock valued at $336,000 after acquiring an additional 336 shares during the period. Osaic Holdings Inc. increased its position in VEON by 36.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider's stock valued at $66,000 after acquiring an additional 388 shares during the period. Bank of America Corp DE increased its position in VEON by 1.0% in the 2nd quarter. Bank of America Corp DE now owns 53,571 shares of the Wireless communications provider's stock valued at $2,468,000 after acquiring an additional 538 shares during the period. Finally, Diversify Advisory Services LLC increased its position in VEON by 9.5% in the 4th quarter. Diversify Advisory Services LLC now owns 7,921 shares of the Wireless communications provider's stock valued at $432,000 after acquiring an additional 685 shares during the period. 21.30% of the stock is currently owned by institutional investors and hedge funds.

VEON Trading Up 1.1%

VEON opened at $50.29 on Friday. VEON Ltd. has a twelve month low of $34.55 and a twelve month high of $64.00. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 2.47. The company has a fifty day moving average of $51.34 and a 200-day moving average of $51.62. The stock has a market cap of $3.72 billion, a PE ratio of 6.77 and a beta of 1.61.

VEON (NASDAQ:VEON - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The Wireless communications provider reported ($0.44) earnings per share for the quarter. VEON had a return on equity of 47.86% and a net margin of 12.12%.The firm had revenue of $1.17 billion for the quarter. On average, sell-side analysts predict that VEON Ltd. will post 8.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on VEON shares. Benchmark restated a "buy" rating on shares of VEON in a research report on Friday, March 13th. Wall Street Zen cut shares of VEON from a "buy" rating to a "hold" rating in a research report on Saturday. Rothschild & Co Redburn set a $74.00 price objective on shares of VEON and gave the stock a "buy" rating in a research report on Thursday, April 16th. Finally, Zacks Research upgraded shares of VEON from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, VEON currently has an average rating of "Buy" and an average price target of $67.00.

VEON Company Profile

VEON Ltd NASDAQ: VEON is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.

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