Waterfront Wealth Inc. increased its position in shares of Vodafone Group PLC (NASDAQ:VOD - Free Report) by 54.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 373,681 shares of the cell phone carrier's stock after purchasing an additional 131,291 shares during the period. Vodafone Group makes up about 0.9% of Waterfront Wealth Inc.'s portfolio, making the stock its 29th biggest holding. Waterfront Wealth Inc.'s holdings in Vodafone Group were worth $3,501,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC bought a new position in Vodafone Group during the 1st quarter worth $125,000. Perigon Wealth Management LLC increased its stake in Vodafone Group by 20.9% during the 1st quarter. Perigon Wealth Management LLC now owns 40,946 shares of the cell phone carrier's stock worth $384,000 after acquiring an additional 7,079 shares during the period. Lazari Capital Management Inc. increased its stake in Vodafone Group by 36.7% during the 1st quarter. Lazari Capital Management Inc. now owns 29,143 shares of the cell phone carrier's stock worth $273,000 after acquiring an additional 7,819 shares during the period. Oppenheimer & Co. Inc. increased its stake in Vodafone Group by 272.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,253,059 shares of the cell phone carrier's stock worth $21,111,000 after acquiring an additional 1,648,879 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in Vodafone Group by 18.7% during 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 acquiring an additional 944,189 shares during the period. 7.84% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have commented on VOD. DZ Bank upgraded Vodafone Group from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Berenberg Bank upgraded Vodafone Group to a "hold" rating in a research note on Thursday. Wall Street Zen lowered Vodafone Group from a "buy" rating to a "hold" rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Vodafone Group in a research note on Wednesday, April 23rd. Finally, Bank of America lowered Vodafone Group from a "buy" rating to a "neutral" rating in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Vodafone Group currently has a consensus rating of "Hold".
View Our Latest Research Report on Vodafone Group
Vodafone Group Trading Down 1.0%
Shares of VOD stock opened at $10.55 on Friday. The firm has a market capitalization of $26.15 billion, a P/E ratio of 9.25 and a beta of 0.58. Vodafone Group PLC has a twelve month low of $8.00 and a twelve month high of $10.70. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 0.85. The stock's fifty day simple moving average is $9.90 and its 200 day simple moving average is $9.14.
Vodafone Group Cuts Dividend
The company also recently disclosed a semi-annual dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 6th will be given a dividend of $0.2355 per share. The ex-dividend date is Friday, June 6th. This represents a yield of 6.6%. Vodafone Group's dividend payout ratio is currently 41.23%.
About Vodafone Group
(
Free Report)
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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