Vodafone Group PLC $VOD Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in Vodafone Group PLC by 24.9%, now holding 171,610 shares valued at approximately $1.83 million.
• Other hedge funds have increased their holdings in Vodafone, with ACR Alpine Capital Research LLC purchasing an additional 3.69 million shares, raising its position by 16.8% in the last quarter.
• Vodafone Group stock is currently rated as "Reduce" by analysts, with a consensus price target set at $136.00 following various upgrades and downgrades from different institutions.

Truist Financial Corp decreased its position in Vodafone Group PLC (NASDAQ:VOD - Free Report) by 24.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,610 shares of the cell phone carrier's stock after selling 56,782 shares during the quarter. Truist Financial Corp's holdings in Vodafone Group were worth $1,829,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in VOD. ACR Alpine Capital Research LLC lifted 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 last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Vodafone Group by 18.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,998,450 shares of the cell phone carrier's stock worth $56,205,000 after purchasing an additional 944,189 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Vodafone Group by 1.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,499,770 shares of the cell phone carrier's stock worth $51,533,000 after purchasing an additional 69,986 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Vodafone Group by 5.4% in the 1st quarter. Royal Bank of Canada now owns 3,117,008 shares of the cell phone carrier's stock worth $29,207,000 after purchasing an additional 159,985 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Vodafone Group by 272.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 2,253,059 shares of the cell phone carrier's stock worth $21,111,000 after purchasing an additional 1,648,879 shares during the last quarter. Institutional investors and hedge funds own 7.84% of the company's stock.

Vodafone Group Stock Up 0.2%

Shares of Vodafone Group stock opened at $11.30 on Friday. The stock's fifty day moving average is $11.59 and its 200-day moving average is $10.55. The firm has a market capitalization of $27.11 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 0.54 and a beta of 0.62. 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 PLC has a 12-month low of $8.00 and a 12-month high of $12.06.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Berenberg Bank raised Vodafone Group to a "hold" rating in a report on Thursday, June 26th. Morgan Stanley assumed coverage on Vodafone Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Vodafone Group in a research note on Wednesday. Zacks Research raised Vodafone Group to a "hold" rating in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group downgraded Vodafone Group from a "neutral" rating to a "sell" rating and set a $136.00 target price on the stock. in a research note on Thursday, July 31st. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $136.00.

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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