ProVise Management Group LLC purchased a new stake in Vodafone Group Plc (NASDAQ:VOD) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 17,406 shares of the cell phone carrier’s stock, valued at approximately $423,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wealthcare Advisory Partners LLC boosted its stake in shares of Vodafone Group by 136.9% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,117 shares of the cell phone carrier’s stock valued at $115,000 after purchasing an additional 2,379 shares during the last quarter. Bessemer Group Inc. boosted its stake in Vodafone Group by 149.8% during the second quarter. Bessemer Group Inc. now owns 5,321 shares of the cell phone carrier’s stock worth $129,000 after acquiring an additional 3,191 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Vodafone Group during the second quarter worth $143,000. Institutional & Family Asset Management LLC bought a new position in Vodafone Group during the first quarter worth $146,000. Finally, Centaurus Financial Inc. bought a new position in Vodafone Group during the first quarter worth $150,000. Hedge funds and other institutional investors own 10.06% of the company’s stock.
VOD opened at $21.49 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 0.97. Vodafone Group Plc has a 1-year low of $21.13 and a 1-year high of $32.75. The firm has a market cap of $56.82 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.70 and a beta of 0.83.
VOD has been the topic of several research analyst reports. BidaskClub lowered shares of Vodafone Group from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 20th. Zacks Investment Research raised shares of Vodafone Group from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 19th. Bank of America lowered shares of Vodafone Group from a “buy” rating to a “neutral” rating in a research note on Thursday, August 30th. Sanford C. Bernstein raised shares of Vodafone Group from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Tuesday. Finally, UBS Group reissued a “buy” rating on shares of Vodafone Group in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Vodafone Group currently has an average rating of “Buy” and an average price target of $33.36.
Vodafone Group Profile
Vodafone Group Plc engages in telecommunication services in Europe, Africa, the Middle East, and the Asia Pacific. The company's consumer products include mobile services, such as call, text, and data; broadband; television offerings and voice; mobile money services through M-pesa; Giga TV, an advanced digital service; and converged communication solutions, such as GigaKombi, Vodafone One Net Enterprise, Vodafone One, and Vodafone Meet Anywhere.
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