Vodafone Group Public Limited Company (NASDAQ: VOD) is a multinational telecommunications company that provides a range of services including voice, messaging, data and fixed-line. It has a customer base of almost 300 million people across more than 30 countries. The company has had its share of challenges in recent years, but it is slowly getting back on track. And for investors, now may be a good time to consider buying shares in the company. Here’s why.
What is Vodafone PLC?
Vodafone Group Public Limited Company is a multinational telecommunications company. It was founded in 1984 and is headquartered in England. As of June 30, 2020, it had 300 million mobile customers and 27 million fixed broadband customers. Vodafone PLC has operations in 21 countries and provides services to 48 markets globally. The company offers voice, data, and messaging services; fixed-line and mobile telephony; broadband internet; television; hosting and cloud services; enterprise mobility solutions; banking services; and insurance products.
Why should you invest in Vodafone (NASDAQ: VOD)?
Here’re two top reasons why Vodafone Group Public Limited Company is a worth considering for your portfolio:
1. Several Possible deals are coming
In recent news, Vodafone have announced that they have entered an agreement for the potential sale of Vodafone Hungary. The total revenue would be a cash consideration equivalent to an enterprise value of €1.8 billion.
On September 22, Deutsche Bank analyst Robert Grindle maintained a Buy rating for Vodafone Group Public Limited Company (NASDAQ: VOD) and downgraded the stock to 215 GBp from 225 GBp. This change was due to Deutsche Bank’s increased impressions with the rate hike.
The Oddo BHF analyst, Stephane Beyazian, upgraded Vodafone Group Public Limited Company to Outperform from Neutral with a price target of 142 GBp on October 4. The analyst views the shares as too low following the sale of its Hungary unit, purchase of Nowo in Portugal, and merger talks with Three UK. Several other deals are possible, including a sale of the stake in Vantage Towers and disposal of the Spanish fixed-line network. The analyst informed investors about these developments.
2. 15 of the Top Hedge Funds were bullish on Vodafone (NASDAQ: VOD)
Insider Monkey, a number one hedge funds database, reported that 15 of the top hedge funds in their investment database held $566 million in VOD at the end of Q2 2022, compared to 14 in the previous quarter holding $599 billion.
According to this data, 15 hedge funds were bullish on Vodafone in June 2022. Of those, the most valuable was Renaissance Technologies, which had a position worth $372.5 million worth of shares.
What’s more, Vodafone Group Public Limited Company (NASDAQ: VOD) is a high-yield dividend stock with 8.60% as of October 14.
Vodafone Group Public Limited Company is one of the best communication stocks to buy, just like T-Mobile US, Inc., Charter Communications, Inc., and Alphabet Inc. According to hedge funds, Vodafone Group Public Limited Company is a company worth considering for your portfolio.
Conclusion
After reading this article, you now know why Vodafone Group Public Limited Company (NASDAQ: VOD) is a great investment. The company has a strong history of growth and profitability, pays an attractive dividend yield, and has a solid share repurchase program in place. With all of these factors considered, Vodafone Group Public Limited Company is a great addition to any portfolio.
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