Will Vodafone Group’s Share Buyback Distress These Top Institutional Shareholders?

Vodafone Group PLC.(NASDAQ:VOD) reported a first half  loss of £1.98 billion compared to a profit of £6.68 billion last year. The main reason for this is a huge write-down of £5.9 billion for their Spanish and Italian operations which faced falling revenues and heavy discounting. Revenue was down 7.4% to £21.78 billion versus £23.52 billion and missed expectations of £21.82 billion by a whisker. Notwithstanding these results, the company proposes to return £1.5 billion to shareholders through a share buyback, most of that coming from the £2.4 billion dividend they would receive on their 45% stake in Verizon Wireless. The company also declared an interim dividend of 3.27 pence, higher by 7.2% compared to the previous year.

Will Vodafone Group PLC’s shareholders decrease their holdings? They reported owning a total of 178.042 million shares on 09/30/2012. The shares closed at $28.50 on 09/30/2012.

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Here are the ten largest positions in Vodafone Group PLC at the end of September 30th, 2012.

Institutional Capital LLC. held 30,101,820 shares on 09/30/2012 worth $857,901,870. This brought the portfolio total to 4.73%.

Fisher Asset Management LLC. held 9,805,503 shares on 09/30/2012 worth $279,456,836. This brought the portfolio total to 0.77%.

Letko Brosseau & Associates Inc. held 9,801,545 shares on 09/30/2012 worth $279,344,033. This brought the portfolio total to 2.74%.

BMO Financial Corp. held 9,101,306 shares on 09/30/2012 worth $259,387,221. This brought the portfolio total to 0.48%.

Robeco Investment Management Inc. held 7,725,163 shares on 09/30/2012 worth $220,167,146. This brought the portfolio total to 0.85%.

Franklin Resources Inc. held 5,669,342 shares on 09/30/2012 worth $161,576,247. This brought the portfolio total to 0.1%.

Frank Russell  Co. held 5,492,095 shares on 09/30/2012 worth $156,524,708. This brought the portfolio total to 0.36%.

Federated Investors Inc. /PA/ held 5,387,703 shares on 09/30/2012 worth $153,549,536. This brought the portfolio total to 0.67%.

Cambiar Investors LLC.held 5,276,540 shares on 09/30/2012 worth $150,381,390. This brought the portfolio total to 2.46%.

Scout Investments Inc. held 4,856,034 shares on 09/30/2012 worth $138,396,969. This brought the portfolio total to 1.99%.

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