QRG Capital Management Inc. Lowers Stock Position in Vodafone Group PLC $VOD

Key Points

• QRG Capital Management Inc. reduced its position in Vodafone Group PLC by 12.8% in the 2nd quarter, holding 373,412 shares worth approximately $3.98 million after selling 54,803 shares.
• Several institutional investors increased their stakes in Vodafone Group, with Oppenheimer & Co. Inc. raising their holdings by 272.9% during the first quarter.
• Analysts have mixed ratings on Vodafone's stock, with one rating it as a Buy, while others have issued Hold and Sell ratings, reflecting a cautious outlook.

QRG Capital Management Inc. reduced its position in Vodafone Group PLC (NASDAQ:VOD - Free Report) by 12.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 373,412 shares of the cell phone carrier's stock after selling 54,803 shares during the quarter. QRG Capital Management Inc.'s holdings in Vodafone Group were worth $3,981,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. ACR Alpine Capital Research LLC raised its holdings in shares of Vodafone Group by 16.8% in the 1st quarter. ACR Alpine Capital Research LLC now owns 25,696,928 shares of the cell phone carrier's stock worth $240,780,000 after purchasing an additional 3,690,617 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Vodafone Group by 272.9% in the first 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 period. Deutsche Bank AG lifted its position in Vodafone Group by 63,786.2% during the first 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 in the last quarter. Acadian Asset Management LLC grew its stake in Vodafone Group by 512.8% during the first quarter. Acadian Asset Management LLC now owns 1,396,305 shares of the cell phone carrier's stock worth $13,076,000 after buying an additional 1,168,435 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Vodafone Group by 18.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,998,450 shares of the cell phone carrier's stock worth $56,205,000 after acquiring an additional 944,189 shares in the last quarter. Hedge funds and other institutional investors own 7.84% of the company's stock.

Vodafone Group Trading Down 0.6%

Shares of VOD opened at $11.29 on Tuesday. Vodafone Group PLC has a one year low of $8.00 and a one year high of $12.06. The stock has a 50-day moving average price of $11.57 and a 200 day moving average price of $10.50. 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 market capitalization of $27.22 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.54 and a beta of 0.62.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on VOD shares. 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. Berenberg Bank raised Vodafone Group to a "hold" rating in a research report on Thursday, June 26th. Zacks Research upgraded Vodafone Group to a "hold" rating in a report on Tuesday, August 12th. The Goldman Sachs Group lowered Vodafone Group from a "neutral" rating to a "sell" rating and set a $136.00 price target on the stock. in a research report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Vodafone Group in a research report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $136.00.

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.

Want to see what other hedge funds are holding VOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vodafone Group PLC (NASDAQ:VOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.