US Bancorp DE Trims Stock Position in Vodafone Group PLC (NASDAQ:VOD)

Key Points

• US Bancorp DE significantly reduced its stake in Vodafone Group PLC by 55.3%, owning 35,568 shares valued at $333,000 after selling 43,999 shares in the first quarter.
• Multiple institutional investors increased their holdings in Vodafone Group, with Hazlett Burt & Watson Inc. raising its stake by 65.5% and NBC Securities Inc. increasing its stake by 116,833.3% during the same period.
• Vodafone Group's stock has been subject to varying analyst opinions, with Goldman Sachs downgrading it from "neutral" to "sell" and only one analyst giving a "buy" rating, leading to a consensus rating of "Hold".

US Bancorp DE cut its stake in shares of Vodafone Group PLC (NASDAQ:VOD - Free Report) by 55.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,568 shares of the cell phone carrier's stock after selling 43,999 shares during the period. US Bancorp DE's holdings in Vodafone Group were worth $333,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. raised its stake in Vodafone Group by 65.5% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 3,159 shares of the cell phone carrier's stock valued at $30,000 after acquiring an additional 1,250 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Vodafone Group during the 1st quarter worth approximately $31,000. NBC Securities Inc. raised its stake in shares of Vodafone Group by 116,833.3% during the 1st quarter. NBC Securities Inc. now owns 3,508 shares of the cell phone carrier's stock worth $32,000 after buying an additional 3,505 shares in the last quarter. GeoWealth Management LLC raised its stake in shares of Vodafone Group by 258.0% during the 4th quarter. GeoWealth Management LLC now owns 5,180 shares of the cell phone carrier's stock worth $44,000 after buying an additional 3,733 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Vodafone Group during the 1st quarter worth approximately $60,000. 7.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VOD. Morgan Stanley began coverage on Vodafone Group in a research note on Wednesday, July 2nd. They set an "equal weight" rating for the company. The Goldman Sachs Group downgraded Vodafone Group from a "neutral" rating to a "sell" rating and set a $136.00 target price for the company. in a research note on Thursday, July 31st. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Vodafone Group in a research note on Wednesday, April 23rd. Berenberg Bank raised Vodafone Group to a "hold" rating in a research note on Thursday, June 26th. Finally, Wall Street Zen cut Vodafone Group from a "buy" rating to a "hold" rating in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $136.00.

Vodafone Group Stock Performance

VOD opened at $11.65 on Thursday. The stock has a market cap 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 debt-to-equity ratio of 0.85, a current ratio of 1.26 and a quick ratio of 1.23. The stock's 50 day simple moving average is $10.76 and its 200 day simple moving average is $9.73. Vodafone Group PLC has a 1-year low of $8.00 and a 1-year high of $11.68.

Vodafone Group Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, August 1st. Investors of record on Friday, June 6th were issued a $0.2355 dividend. The ex-dividend date was Friday, June 6th. This represents a dividend yield of 660.0%. Vodafone Group's dividend payout ratio is currently 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.

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