Truist Financial Corp Decreases Stock Position in Vodafone Group PLC $VOD

Truist Financial Corp reduced its position in Vodafone Group PLC (NASDAQ:VOD) by 36.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,451 shares of the cell phone carrier’s stock after selling 56,397 shares during the period. Truist Financial Corp’s holdings in Vodafone Group were worth $1,274,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. ACR Alpine Capital Research LLC raised its holdings in Vodafone Group by 0.9% in the 3rd quarter. ACR Alpine Capital Research LLC now owns 26,095,086 shares of the cell phone carrier’s stock worth $302,703,000 after acquiring an additional 228,325 shares during the last quarter. Bank of America Corp DE raised its holdings in Vodafone Group by 9.1% in the 3rd quarter. Bank of America Corp DE now owns 7,331,144 shares of the cell phone carrier’s stock worth $85,041,000 after acquiring an additional 610,409 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Vodafone Group by 1.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 5,518,066 shares of the cell phone carrier’s stock worth $64,010,000 after acquiring an additional 76,534 shares during the last quarter. SALT Holding Corp. raised its holdings in Vodafone Group by 5.5% in the 3rd quarter. SALT Holding Corp. now owns 3,821,000 shares of the cell phone carrier’s stock worth $44,324,000 after acquiring an additional 197,500 shares during the last quarter. Finally, ABC Arbitrage SA raised its holdings in Vodafone Group by 22.7% in the 3rd quarter. ABC Arbitrage SA now owns 3,646,412 shares of the cell phone carrier’s stock worth $42,298,000 after acquiring an additional 673,508 shares during the last quarter. 7.84% of the stock is currently owned by hedge funds and other institutional investors.

Vodafone Group Trading Down 5.2%

NASDAQ:VOD opened at $14.68 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. Vodafone Group PLC has a 12 month low of $9.30 and a 12 month high of $16.60. The company has a 50 day simple moving average of $15.16 and a two-hundred day simple moving average of $14.05.

Vodafone Group Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Thursday, July 30th. Stockholders of record on Friday, June 5th will be given a dividend of $0.2766 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a dividend yield of 357.0%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Vodafone Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. DZ Bank downgraded shares of Vodafone Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Weiss Ratings downgraded shares of Vodafone Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, UBS Group raised shares of Vodafone Group from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $72.00.

Vodafone Group Profile

Vodafone Group plc is a British multinational telecommunications company headquartered in London. It provides a wide range of communications services to consumer and enterprise customers, including mobile voice and data, fixed-line broadband, cable and pay-TV, and wholesale network services. The company also offers business-oriented solutions such as cloud and hosting, managed networks, unified communications, and Internet of Things (IoT) connectivity and platform services.

Vodafone operates through a combination of wholly owned subsidiaries, joint ventures and partner arrangements across multiple countries, with a particularly large presence in Europe and in several African markets.