Brokerages Set Vodafone Group PLC (NASDAQ:VOD) Price Target at $52.38

Vodafone Group PLC (NASDAQ:VOD) has earned a consensus rating of “Reduce” from the ten ratings firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $52.3767.

A number of equities analysts recently weighed in on VOD shares. Wall Street Zen raised shares of Vodafone Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 31st. New Street Research raised Vodafone Group from a “neutral” rating to a “buy” rating in a research report on Friday, July 10th. Bank of America cut Vodafone Group from a “neutral” rating to an “underperform” rating and set a $13.13 price target on the stock. in a research note on Tuesday, May 26th. Barclays cut Vodafone Group from an “overweight” rating to an “equal weight” rating in a research note on Thursday, June 11th. Finally, Weiss Ratings downgraded Vodafone Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 4th.

Vodafone Group Price Performance

Shares of VOD opened at $15.51 on Monday. The firm has a 50-day simple moving average of $14.60 and a two-hundred day simple moving average of $14.80. Vodafone Group has a 1-year low of $10.66 and a 1-year high of $16.60. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.84.

Vodafone Group Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, July 30th. Shareholders of record on Friday, June 5th will be given a $0.2766 dividend. This represents a yield of 376.0%. The ex-dividend date of this dividend is Friday, June 5th.

Institutional Trading of Vodafone Group

Hedge funds have recently made changes to their positions in the business. Assetmark Inc. grew its holdings in shares of Vodafone Group by 156.8% in the fourth quarter. Assetmark Inc. now owns 2,275 shares of the cell phone carrier’s stock valued at $30,000 after purchasing an additional 1,389 shares in the last quarter. Bayban lifted its holdings in Vodafone Group by 6,696.7% during the 1st quarter. Bayban now owns 2,039 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 2,009 shares in the last quarter. American Capital Advisory LLC boosted its position in Vodafone Group by 40.8% in the 4th quarter. American Capital Advisory LLC now owns 2,400 shares of the cell phone carrier’s stock valued at $32,000 after buying an additional 696 shares during the period. Western Wealth Management LLC acquired a new position in shares of Vodafone Group in the first quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of 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 during the period. Institutional investors and hedge funds own 7.84% of the company’s stock.

About Vodafone Group

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.