Truist Financial Corp Buys 3,094 Shares of Telefonica SA $TEF

Truist Financial Corp increased its stake in Telefonica SA (NYSE:TEF) by 26.1% during the second quarter, Holdings Channel reports. The firm owned 14,945 shares of the utilities provider’s stock after acquiring an additional 3,094 shares during the period. Truist Financial Corp’s holdings in Telefonica were worth $78,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of TEF. Rhumbline Advisers increased its position in shares of Telefonica by 6.2% in the first quarter. Rhumbline Advisers now owns 100,249 shares of the utilities provider’s stock worth $467,000 after purchasing an additional 5,829 shares during the period. Checchi Capital Advisers LLC increased its position in shares of Telefonica by 28.3% in the first quarter. Checchi Capital Advisers LLC now owns 36,326 shares of the utilities provider’s stock worth $169,000 after purchasing an additional 8,009 shares during the period. Bank of New York Mellon Corp boosted its stake in Telefonica by 10.0% in the first quarter. Bank of New York Mellon Corp now owns 140,352 shares of the utilities provider’s stock valued at $654,000 after buying an additional 12,784 shares in the last quarter. Callan Capital LLC boosted its stake in Telefonica by 44.6% in the first quarter. Callan Capital LLC now owns 44,485 shares of the utilities provider’s stock valued at $207,000 after buying an additional 13,731 shares in the last quarter. Finally, May Hill Capital LLC acquired a new stake in Telefonica in the first quarter valued at about $78,000. Institutional investors own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TEF. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Telefonica in a research note on Wednesday, October 8th. Berenberg Bank raised Telefonica to a “hold” rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Telefonica has a consensus rating of “Reduce”.

Telefonica Stock Performance

Shares of TEF stock opened at $5.20 on Monday. The business’s 50-day moving average price is $5.27 and its 200-day moving average price is $5.16. Telefonica SA has a 12 month low of $3.89 and a 12 month high of $5.72. The firm has a market capitalization of $29.46 billion, a price-to-earnings ratio of -10.82, a PEG ratio of 0.59 and a beta of 0.49. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 1.47.

Telefonica (NYSE:TEF) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. Telefonica had a positive return on equity of 8.57% and a negative net margin of 5.88%.The firm had revenue of $10.28 billion for the quarter, compared to analyst estimates of $9.03 billion. Equities research analysts forecast that Telefonica SA will post 0.3 EPS for the current year.

Telefonica Company Profile

Telefónica, SA, together with its subsidiaries, provides telecommunications services in Europe and Latin America. The company offers mobile and related services and products, such as mobile voice, value added, mobile data and internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.