Vodafone Group Public (NASDAQ:VOD) Hits New 52-Week High Following Dividend Announcement

Shares of Vodafone Group Public Limited (NASDAQ:VOD - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $10.41 and last traded at $10.39, with a volume of 29673755 shares traded. The stock had previously closed at $9.64.

The newly announced dividend which will be paid on Friday, August 1st. Investors of record on Friday, June 6th will be paid a $0.2355 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a dividend yield of 6.6%. Vodafone Group Public's payout ratio is 41.23%.

Analysts Set New Price Targets

VOD has been the subject of a number of analyst reports. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of Vodafone Group Public in a research report on Wednesday, April 23rd. Bank of America cut Vodafone Group Public from a "buy" rating to a "neutral" rating in a research report on Monday, March 24th. Wall Street Zen raised shares of Vodafone Group Public from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. Finally, DZ Bank raised shares of Vodafone Group Public from a "hold" rating to a "buy" rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy".

Vodafone Group Public Trading Down 0.7%

The company has a market capitalization of $26.06 billion, a P/E ratio of 9.18, a P/E/G ratio of 0.66 and a beta of 0.61. The company has a 50-day simple moving average of $9.32 and a 200 day simple moving average of $8.91. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.34 and a current ratio of 1.37.

Institutional Investors Weigh In On Vodafone Group Public

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hazlett Burt & Watson Inc. boosted its holdings in Vodafone Group Public 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 purchasing an additional 1,250 shares during the period. Brucke Financial Inc. lifted its stake in shares of Vodafone Group Public by 9.8% in the first quarter. Brucke Financial Inc. now owns 14,700 shares of the cell phone carrier's stock valued at $143,000 after buying an additional 1,308 shares during the period. Kovitz Investment Group Partners LLC grew its position in Vodafone Group Public by 1.5% during the first quarter. Kovitz Investment Group Partners LLC now owns 92,068 shares of the cell phone carrier's stock worth $863,000 after buying an additional 1,318 shares in the last quarter. Allworth Financial LP raised its holdings in Vodafone Group Public by 4.9% in the 1st quarter. Allworth Financial LP now owns 28,435 shares of the cell phone carrier's stock valued at $265,000 after acquiring an additional 1,332 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in shares of Vodafone Group Public by 11.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 13,531 shares of the cell phone carrier's stock worth $127,000 after acquiring an additional 1,364 shares during the period. Institutional investors and hedge funds own 7.84% of the company's stock.

Vodafone Group Public 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.