Pacer Advisors Inc. lessened its stake in Telefonica S.A. (NYSE:TEF) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 540,522 shares of the utilities provider’s stock after selling 11,452 shares during the period. Pacer Advisors Inc.’s holdings in Telefonica were worth $4,108,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Morgan Stanley boosted its position in Telefonica by 62.1% in the 2nd quarter. Morgan Stanley now owns 18,354,264 shares of the utilities provider’s stock worth $152,155,000 after purchasing an additional 7,032,053 shares in the last quarter. Northern Trust Corp raised its stake in shares of Telefonica by 5.8% during the 2nd quarter. Northern Trust Corp now owns 4,558,875 shares of the utilities provider’s stock worth $37,793,000 after buying an additional 248,323 shares during the period. Bank of America Corp DE raised its stake in shares of Telefonica by 88.2% during the 2nd quarter. Bank of America Corp DE now owns 960,854 shares of the utilities provider’s stock worth $7,965,000 after buying an additional 450,434 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Telefonica during the 2nd quarter worth approximately $7,031,000. Finally, First Trust Advisors LP raised its stake in shares of Telefonica by 2.9% during the 2nd quarter. First Trust Advisors LP now owns 777,213 shares of the utilities provider’s stock worth $6,443,000 after buying an additional 21,831 shares during the period. Institutional investors and hedge funds own 0.96% of the company’s stock.
Several research analysts have recently weighed in on the company. TheStreet downgraded Telefonica from a “b-” rating to a “c+” rating in a research note on Wednesday, August 14th. Bank of America downgraded Telefonica from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 13th. Macquarie raised Telefonica from a “neutral” rating to an “outperform” rating in a research note on Tuesday, September 3rd. UBS Group downgraded Telefonica from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Finally, ValuEngine raised Telefonica from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Telefonica currently has a consensus rating of “Hold” and a consensus price target of $8.50.
NYSE TEF opened at $7.75 on Friday. The business has a fifty day moving average price of $7.26 and a 200 day moving average price of $7.86. Telefonica S.A. has a one year low of $6.50 and a one year high of $9.08. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.79 and a current ratio of 0.84. The company has a market cap of $38.84 billion, a P/E ratio of 8.16, a P/E/G ratio of 1.63 and a beta of 0.72.
Telefonica (NYSE:TEF) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.21 EPS for the quarter. Telefonica had a return on equity of 16.21% and a net margin of 7.27%. The firm had revenue of $13.65 billion during the quarter, compared to the consensus estimate of $13.54 billion. As a group, sell-side analysts predict that Telefonica S.A. will post 0.77 EPS for the current fiscal year.
Telefónica, SA provides mobile and fixed communication services primarily in Europe and Latin America. The company's mobile and related services and products comprise mobile voice, value added, mobile data and Internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.
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