Summit Securities Group LLC Purchases 46,636 Shares of Vodafone Group PLC $VOD

Key Points

• Summit Securities Group LLC significantly increased its stake in Vodafone Group PLC by 4,239.6%, acquiring a total of 47,736 shares worth approximately $447,000.
• Vodafone recently announced a semi-annual dividend of $0.2355 per share, representing a yield of 660.0%, with a payout ratio of 42.98%.
• Several analysts assigned new ratings on Vodafone's stock; JPMorgan Chase & Co. maintained an "underweight" rating, while Berenberg Bank upgraded it to "hold."

Summit Securities Group LLC raised its stake in shares of Vodafone Group PLC (NASDAQ:VOD - Free Report) by 4,239.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 47,736 shares of the cell phone carrier's stock after purchasing an additional 46,636 shares during the period. Summit Securities Group LLC's holdings in Vodafone Group were worth $447,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Hazlett Burt & Watson Inc. grew its holdings in Vodafone Group by 65.5% during the first quarter. Hazlett Burt & Watson Inc. now owns 3,159 shares of the cell phone carrier's stock worth $30,000 after buying an additional 1,250 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Vodafone Group during the 1st quarter worth $31,000. NBC Securities Inc. grew its stake in shares of Vodafone Group by 116,833.3% in the 1st quarter. NBC Securities Inc. now owns 3,508 shares of the cell phone carrier's stock worth $32,000 after acquiring an additional 3,505 shares in the last quarter. GeoWealth Management LLC raised its holdings in shares of Vodafone Group by 258.0% in the fourth quarter. GeoWealth Management LLC now owns 5,180 shares of the cell phone carrier's stock valued at $44,000 after purchasing an additional 3,733 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its position in shares of Vodafone Group by 509.7% during the fourth quarter. CoreCap Advisors LLC now owns 6,829 shares of the cell phone carrier's stock valued at $58,000 after purchasing an additional 5,709 shares in the last quarter. Institutional investors own 7.84% of the company's stock.

Vodafone Group Stock Performance

Shares of VOD stock traded up $0.19 during trading on Wednesday, reaching $11.90. 6,689,952 shares of the company's stock traded hands, compared to its average volume of 11,768,500. The firm's 50-day moving average is $10.89 and its 200 day moving average is $9.83. The company has a market capitalization of $28.88 billion, a P/E ratio of 10.44, a PEG ratio of 0.56 and a beta of 0.62. Vodafone Group PLC has a 1 year low of $8.00 and a 1 year high of $11.92. The company has a current ratio of 1.26, a quick ratio of 1.23 and a debt-to-equity ratio of 0.85.

Wall Street Analysts Forecast Growth

VOD has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Vodafone Group in a research report on Wednesday, July 2nd. They issued an "equal weight" rating for the company. Berenberg Bank upgraded Vodafone Group to a "hold" rating in a research note on Thursday, June 26th. Zacks Research raised Vodafone Group to a "hold" rating in a research report on Tuesday, August 12th. Wall Street Zen lowered Vodafone Group from a "buy" rating to a "hold" rating in a report on Tuesday, May 27th. Finally, The Goldman Sachs Group downgraded Vodafone Group from a "neutral" rating to a "sell" rating and set a $136.00 price objective for the company. in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Vodafone Group presently has an average rating of "Reduce" and an average price target 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.