Vodafone Group PLC $VOD Stock Position Cut by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. lessened its position in shares of Vodafone Group PLC (NASDAQ:VOD) by 67.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,100 shares of the cell phone carrier’s stock after selling 38,000 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Vodafone Group were worth $292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. boosted its holdings in Vodafone Group by 72.4% during the first quarter. Sei Investments Co. now owns 866,316 shares of the cell phone carrier’s stock worth $13,014,000 after purchasing an additional 363,694 shares during the last quarter. Merit Financial Group LLC increased its stake in Vodafone Group by 7,003.0% in the 2nd quarter. Merit Financial Group LLC now owns 788,577 shares of the cell phone carrier’s stock valued at $10,429,000 after buying an additional 777,475 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in Vodafone Group by 313.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 107,388 shares of the cell phone carrier’s stock valued at $1,420,000 after buying an additional 81,393 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in Vodafone Group by 415.8% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 52,829 shares of the cell phone carrier’s stock worth $699,000 after buying an additional 42,587 shares in the last quarter. Finally, Three Seasons Wealth LLC lifted its position in Vodafone Group by 972.1% during the 2nd quarter. Three Seasons Wealth LLC now owns 165,685 shares of the cell phone carrier’s stock worth $2,191,000 after buying an additional 150,231 shares in the last quarter. Institutional investors and hedge funds own 7.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VOD. The Goldman Sachs Group upgraded Vodafone Group from a “sell” rating to a “buy” rating in a report on Friday, September 4th. Berenberg Bank reaffirmed a “buy” rating on shares of Vodafone Group in a research report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Vodafone Group in a report on Friday, October 9th. JPMorgan Chase & Co. reissued a “sell” rating on shares of Vodafone Group in a research report on Monday, July 27th. Finally, Wall Street Zen downgraded Vodafone Group from a “buy” rating to a “hold” rating in a research note on Tuesday, September 22nd. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.13.

Vodafone Group Trading Down 2.3%

Shares of VOD stock opened at $15.58 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average price of $16.34 and a two-hundred day moving average price of $15.42. Vodafone Group PLC has a one year low of $11.45 and a one year high of $17.71.

Vodafone Group Company Profile

Vodafone Group is a telecommunications company headquartered in the United Kingdom. It provides mobile and fixed-line connectivity, broadband, voice and data services to consumers, businesses and public-sector organizations.

The company also offers business technology services, including Internet of Things connectivity and digital solutions. Its operations and services span Europe and Africa, with Vodacom serving as a major part of its African business, and it works with partner networks to serve customers in other markets.

Vodafone traces its roots to Racal Telecom, which was established in 1984 and became an independent company in 1991.