Pinnacle Associates Ltd. Sells 7,828 Shares of Vodafone Group Plc (NASDAQ:VOD)

Pinnacle Associates Ltd. trimmed its position in Vodafone Group Plc (NASDAQ:VOD) by 8.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 86,928 shares of the cell phone carrier’s stock after selling 7,828 shares during the period. Pinnacle Associates Ltd.’s holdings in Vodafone Group were worth $1,420,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in VOD. ACR Alpine Capital Research LLC raised its position in Vodafone Group by 22.8% during the 1st quarter. ACR Alpine Capital Research LLC now owns 8,061,251 shares of the cell phone carrier’s stock worth $146,554,000 after purchasing an additional 1,495,285 shares during the last quarter. Letko Brosseau & Associates Inc. raised its position in shares of Vodafone Group by 33.3% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 2,993,406 shares of the cell phone carrier’s stock worth $54,420,000 after acquiring an additional 747,968 shares in the last quarter. Delek Group Ltd. raised its position in shares of Vodafone Group by 80.8% in the 1st quarter. Delek Group Ltd. now owns 1,231,000 shares of the cell phone carrier’s stock worth $22,269,000 after acquiring an additional 550,000 shares in the last quarter. Altrinsic Global Advisors LLC raised its position in shares of Vodafone Group by 8.2% in the 1st quarter. Altrinsic Global Advisors LLC now owns 6,298,764 shares of the cell phone carrier’s stock worth $114,511,000 after acquiring an additional 477,670 shares in the last quarter. Finally, Miller Howard Investments Inc. NY raised its position in shares of Vodafone Group by 108.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 766,922 shares of the cell phone carrier’s stock worth $12,524,000 after acquiring an additional 398,946 shares in the last quarter. Institutional investors own 7.95% of the company’s stock.

Shares of VOD opened at $18.55 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.55 and a quick ratio of 1.52. The stock has a 50-day moving average of $17.36 and a 200-day moving average of $17.52. The company has a market cap of $47.92 billion, a PE ratio of 30.92, a P/E/G ratio of 1.37 and a beta of 0.82. Vodafone Group Plc has a one year low of $15.53 and a one year high of $23.12.

VOD has been the subject of several research analyst reports. HSBC raised Vodafone Group from a “hold” rating to a “buy” rating and set a $15.99 price objective for the company in a research report on Friday, May 24th. Zacks Investment Research raised Vodafone Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th. BidaskClub raised Vodafone Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 30th. Bank of America reissued a “buy” rating on shares of Vodafone Group in a research report on Thursday, August 1st. Finally, Morgan Stanley initiated coverage on Vodafone Group in a research report on Wednesday, August 7th. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $23.30.

About Vodafone Group

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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Institutional Ownership by Quarter for Vodafone Group (NASDAQ:VOD)

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