Bank of New York Mellon Corp Cuts Position in Vodafone Group PLC $VOD

Bank of New York Mellon Corp trimmed its stake in Vodafone Group PLC (NASDAQ:VOD) by 73.5% in the 1st quarter, HoldingsChannel reports. The fund owned 2,358,789 shares of the cell phone carrier’s stock after selling 6,543,697 shares during the quarter. Bank of New York Mellon Corp’s holdings in Vodafone Group were worth $35,429,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Robertson Stephens Wealth Management LLC purchased a new stake in shares of Vodafone Group during the fourth quarter valued at about $922,000. Gateway Investment Advisers LLC grew its position in shares of Vodafone Group by 68.0% in the 4th quarter. Gateway Investment Advisers LLC now owns 352,038 shares of the cell phone carrier’s stock worth $4,650,000 after buying an additional 142,440 shares during the last quarter. Shrier Wealth Management LLC bought a new position in shares of Vodafone Group during the 4th quarter worth approximately $1,002,000. Capital Wealth Planning LLC lifted its position in Vodafone Group by 87.2% during the fourth quarter. Capital Wealth Planning LLC now owns 1,028,112 shares of the cell phone carrier’s stock valued at $13,715,000 after acquiring an additional 478,977 shares during the last quarter. Finally, ABC Arbitrage SA lifted its position in Vodafone Group by 3.1% during the first quarter. ABC Arbitrage SA now owns 3,326,511 shares of the cell phone carrier’s stock valued at $49,964,000 after acquiring an additional 98,922 shares during the last quarter. Institutional investors own 7.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Vodafone Group from a “sell” rating to a “hold” rating in a report on Sunday, May 31st. DZ Bank lowered Vodafone Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Zacks Research downgraded Vodafone Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Bank of America lowered Vodafone Group from a “neutral” rating to an “underperform” rating and set a $13.13 target price on the stock. in a research report on Tuesday, May 26th. Finally, Weiss Ratings cut Vodafone Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 4th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Vodafone Group currently has an average rating of “Reduce” and a consensus target price of $52.38.

Vodafone Group Price Performance

Shares of NASDAQ:VOD opened at $15.15 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.11 and a current ratio of 1.14. Vodafone Group PLC has a 52-week low of $10.66 and a 52-week high of $16.60. The business has a 50-day moving average price of $14.61 and a 200-day moving average price of $14.83.

Vodafone Group Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, July 30th. Shareholders 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 yield of 376.0%.

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.