Waterfront Wealth Inc. Sells 120,661 Shares of Vodafone Group PLC $VOD

Waterfront Wealth Inc. lowered its position in shares of Vodafone Group PLC (NASDAQ:VOD) by 70.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,749 shares of the cell phone carrier’s stock after selling 120,661 shares during the quarter. Waterfront Wealth Inc.’s holdings in Vodafone Group were worth $747,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of VOD. Assetmark Inc. boosted its position in shares of Vodafone Group by 156.8% during the fourth quarter. Assetmark Inc. now owns 2,275 shares of the cell phone carrier’s stock worth $30,000 after purchasing an additional 1,389 shares in the last quarter. Bayban increased its position in shares of Vodafone Group by 6,696.7% in the 1st quarter. Bayban now owns 2,039 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 2,009 shares in the last quarter. American Capital Advisory LLC raised its stake in Vodafone Group by 40.8% during the 4th quarter. American Capital Advisory LLC now owns 2,400 shares of the cell phone carrier’s stock worth $32,000 after buying an additional 696 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Vodafone Group by 81.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,651 shares of the cell phone carrier’s stock worth $35,000 after acquiring an additional 1,193 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Vodafone Group by 38.0% in the third quarter. CIBC Private Wealth Group LLC now owns 3,435 shares of the cell phone carrier’s stock valued at $40,000 after acquiring an additional 946 shares during the period. 7.84% of the stock is currently owned by institutional investors and hedge funds.

Vodafone Group News Roundup

Here are the key news stories impacting Vodafone Group this week:

• Positive Sentiment: French telecom billionaire Xavier Niel agreed to buy Emirates Telecommunications’ entire 16.2% stake in Vodafone for about $5.9 billion, making him Vodafone’s largest shareholder and signaling renewed strategic interest in the company. Reuters article
• Positive Sentiment: Market sentiment improved further after New Street Research upgraded Vodafone from “neutral” to “buy,” reinforcing the idea that the stock may have more upside following recent restructuring and ownership developments.
• Positive Sentiment: Shares also benefited from broader media coverage of the transaction as a potential catalyst for a European telecom reset, with investors viewing the deal as supportive of Vodafone’s valuation and strategic optionality. RCR Wireless article
• Neutral Sentiment: Vodafone’s move was also part of a broader market bounce in London, with telecom and other large-cap names rising as investors digested deal news and sector developments. Reuters article

Analyst Ratings Changes

VOD has been the subject of several recent analyst reports. Zacks Research downgraded Vodafone Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. New Street Research upgraded Vodafone Group from a “neutral” rating to a “buy” rating in a research report on Friday. Wall Street Zen raised Vodafone Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 31st. Bank of America downgraded shares of Vodafone Group from a “neutral” rating to an “underperform” rating and set a $13.13 target price on the stock. in a report on Tuesday, May 26th. Finally, DZ Bank cut shares of Vodafone Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $52.38.

Vodafone Group Price Performance

Shares of NASDAQ:VOD traded up $1.64 during mid-day trading on Friday, reaching $14.72. 17,051,929 shares of the stock were exchanged, compared to its average volume of 3,086,690. The stock’s 50 day simple moving average is $14.66 and its 200-day simple moving average is $14.66. Vodafone Group PLC has a one year low of $10.66 and a one year high of $16.60. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 0.84.

Vodafone Group Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, July 30th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.2766 per share. This represents a dividend yield of 376.0%. The ex-dividend date of this dividend is Friday, June 5th.

Vodafone Group Company 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.