JPMorgan Chase & Co. Reduces Stock Position in Vodafone Group PLC $VOD

JPMorgan Chase & Co. decreased its holdings in Vodafone Group PLC (NASDAQ:VOD) by 25.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,021,962 shares of the cell phone carrier’s stock after selling 2,054,186 shares during the period. JPMorgan Chase & Co. owned about 0.25% of Vodafone Group worth $69,855,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Sound Income Strategies LLC increased its stake in shares of Vodafone Group by 3,455.7% during the third quarter. Sound Income Strategies LLC now owns 3,449 shares of the cell phone carrier’s stock valued at $39,000 after buying an additional 3,352 shares during the period. Global Retirement Partners LLC increased its position in shares of Vodafone Group by 36.2% during the third quarter. Global Retirement Partners LLC now owns 6,389 shares of the cell phone carrier’s stock worth $74,000 after purchasing an additional 1,698 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Vodafone Group by 98.1% in the second quarter. Smartleaf Asset Management LLC now owns 7,372 shares of the cell phone carrier’s stock valued at $78,000 after buying an additional 3,651 shares during the last quarter. Rexford Capital Inc. purchased a new position in shares of Vodafone Group in the 2nd quarter valued at approximately $89,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of Vodafone Group during the second quarter worth $107,000. 7.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VOD. Weiss Ratings reissued a “sell (d+)” rating on shares of Vodafone Group in a report on Wednesday, January 21st. Wall Street Zen downgraded shares of Vodafone Group from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Zacks Research raised shares of Vodafone Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. UBS Group restated a “sell” rating on shares of Vodafone Group in a research report on Monday, November 3rd. Finally, Berenberg Bank upgraded Vodafone Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $72.00.

Vodafone Group Trading Up 0.9%

VOD stock opened at $15.70 on Wednesday. Vodafone Group PLC has a one year low of $8.05 and a one year high of $15.90. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.17. The firm’s fifty day moving average is $14.18 and its 200 day moving average is $12.66.

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.