Oppenheimer Asset Management Inc. reduced its stake in Telefonica S.A. (NYSE:TEF) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,450 shares of the utilities provider’s stock after selling 3,797 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Telefonica were worth $1,553,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Macquarie Group Ltd. raised its stake in shares of Telefonica by 11.0% in the first quarter. Macquarie Group Ltd. now owns 6,756,516 shares of the utilities provider’s stock worth $75,605,000 after buying an additional 667,294 shares during the period. FNY Partners Fund LP bought a new position in shares of Telefonica in the first quarter worth about $6,496,000. Parametric Portfolio Associates LLC raised its stake in shares of Telefonica by 66.7% in the first quarter. Parametric Portfolio Associates LLC now owns 1,242,151 shares of the utilities provider’s stock worth $13,900,000 after buying an additional 497,190 shares during the period. First Trust Advisors LP raised its stake in Telefonica by 557.8% during the 1st quarter. First Trust Advisors LP now owns 551,351 shares of the utilities provider’s stock valued at $6,170,000 after purchasing an additional 467,529 shares during the period. Finally, FMR LLC raised its stake in Telefonica by 2,954.9% during the 1st quarter. FMR LLC now owns 479,520 shares of the utilities provider’s stock valued at $5,366,000 after purchasing an additional 463,823 shares during the period. 0.93% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Telefonica from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Wednesday, September 6th. J P Morgan Chase & Co lowered Telefonica from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 5th. Citigroup Inc. reissued a “buy” rating on shares of Telefonica in a research note on Monday, September 4th. ValuEngine lowered Telefonica from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub lowered Telefonica from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Telefonica has an average rating of “Hold” and a consensus price target of $10.81.
Telefonica S.A. (NYSE:TEF) traded up 0.512% during mid-day trading on Friday, reaching $10.795. The company’s stock had a trading volume of 145,843 shares. The stock’s 50 day moving average is $10.97 and its 200 day moving average is $10.96. Telefonica S.A. has a one year low of $8.15 and a one year high of $11.64. The firm has a market cap of $55.30 billion, a PE ratio of 18.235 and a beta of 1.32.
Telefonica (NYSE:TEF) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.02). The firm had revenue of $14.24 billion during the quarter, compared to analysts’ expectations of $15.01 billion. Telefonica had a net margin of 6.54% and a return on equity of 17.72%. On average, analysts anticipate that Telefonica S.A. will post $0.89 EPS for the current year.
Telefonica, SA is an integrated and diversified telecommunications group operating in Europe and Latin America. The Company’s services and products include Mobile business, Fixed-line telephony business and Digital services. Its segments include Telefonica Spain, Telefonica Brazil, Telefonica Germany, Telefonica United Kingdom and Telefonica Hispanoamerica (formed by the Company’s operators in Argentina, Chile, Peru, Colombia, Mexico, Venezuela and Central America, Ecuador and Uruguay).
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