Vodafone Group (NASDAQ:VOD) Sees Large Volume Increase - Time to Buy?

Vodafone Group PLC (NASDAQ:VOD - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 15,540,582 shares changed hands during mid-day trading, an increase of 76% from the previous session's volume of 8,844,781 shares.The stock last traded at $10.24 and had previously closed at $10.04.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VOD. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Vodafone Group in a report on Wednesday, April 23rd. Bank of America cut Vodafone Group from a "buy" rating to a "neutral" rating in a research note on Monday, March 24th. Wall Street Zen cut Vodafone Group from a "buy" rating to a "hold" rating in a report on Tuesday, May 27th. Finally, DZ Bank raised Vodafone Group from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold".

Vodafone Group Stock Up 1.2%

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 firm has a fifty day moving average of $9.74 and a 200-day moving average of $9.07. The firm has a market cap of $25.20 billion, a P/E ratio of 8.92 and a beta of 0.58.

Vodafone Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 6th will be issued a $0.2355 dividend. This represents a dividend yield of 6.6%. The ex-dividend date of this dividend is Friday, June 6th. Vodafone Group's payout ratio is presently 41.23%.

Hedge Funds Weigh In On Vodafone Group

A number of institutional investors have recently added to or reduced their stakes in the company. Modern Wealth Management LLC bought a new position in Vodafone Group during the first quarter worth $285,000. Acadian Asset Management LLC lifted its holdings in shares of Vodafone Group by 512.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,396,305 shares of the cell phone carrier's stock worth $13,076,000 after acquiring an additional 1,168,435 shares during the period. Focus Partners Wealth boosted its holdings in shares of Vodafone Group by 19.7% in the 1st quarter. Focus Partners Wealth now owns 20,830 shares of the cell phone carrier's stock valued at $195,000 after purchasing an additional 3,435 shares in the last quarter. Empowered Funds LLC boosted its stake in Vodafone Group by 1.9% in the first quarter. Empowered Funds LLC now owns 296,581 shares of the cell phone carrier's stock valued at $2,779,000 after buying an additional 5,592 shares in the last quarter. Finally, RNC Capital Management LLC boosted its position in Vodafone Group by 8.8% in the first quarter. RNC Capital Management LLC now owns 44,855 shares of the cell phone carrier's stock valued at $420,000 after buying an additional 3,621 shares in the last quarter. 7.84% of the stock is currently owned by institutional investors and hedge funds.

About Vodafone Group

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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