Vodafone Group (NASDAQ:VOD) Reaches New 52-Week High - What's Next?

Key Points

• Vodafone Group shares reached a new 52-week high of $11.67, with last trading at $11.63, indicating positive market sentiment.
• Various analysts have assigned ratings ranging from "buy" to "sell," resulting in an average rating of "Hold" and a price target of $136.00.
• The company declared a semi-annual dividend of $0.2355 per share, with a significant dividend yield of 660.0%, despite its payout ratio being 42.98%.

Vodafone Group PLC (NASDAQ:VOD - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $11.67 and last traded at $11.63, with a volume of 16117 shares trading hands. The stock had previously closed at $11.54.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Vodafone Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating for the company. Wall Street Zen lowered Vodafone Group from a "buy" rating to a "hold" rating in a research note on Tuesday, May 27th. Zacks Research upgraded Vodafone Group to a "hold" rating in a report on Tuesday, August 12th. Berenberg Bank raised Vodafone Group to a "hold" rating in a report on Thursday, June 26th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating on shares of Vodafone Group in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $136.00.

Vodafone Group Price Performance

The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.23 and a current ratio of 1.26. The company has a 50-day moving average of $10.82 and a 200-day moving average of $9.79. The stock has a market capitalization of $28.39 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 0.56 and a beta of 0.62.

Vodafone Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, August 1st. Stockholders of record on Friday, June 6th were given a $0.2355 dividend. This represents a dividend yield of 660.0%. The ex-dividend date was Friday, June 6th. Vodafone Group's dividend payout ratio is currently 42.98%.

Institutional Trading of Vodafone Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VOD. V Square Quantitative Management LLC purchased a new stake in shares of Vodafone Group during the second quarter worth about $25,000. Atwood & Palmer Inc. acquired a new stake in Vodafone Group during the second quarter worth approximately $27,000. Hazlett Burt & Watson Inc. raised its holdings in Vodafone Group by 65.5% in 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 $31,000. Finally, NBC Securities Inc. boosted its holdings in shares of Vodafone Group by 116,833.3% during the first quarter. NBC Securities Inc. now owns 3,508 shares of the cell phone carrier's stock worth $32,000 after purchasing an additional 3,505 shares during the last quarter. Hedge funds and other institutional investors own 7.84% of the company's stock.

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.