JPMorgan Chase & Co. Increases Holdings in Telecom Argentina SA (TEO)
JPMorgan Chase & Co. boosted its holdings in shares of Telecom Argentina SA (NYSE:TEO) by 475.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 228,135 shares of the utilities provider’s stock after acquiring an additional 188,465 shares during the quarter. JPMorgan Chase & Co. owned 0.12% of Telecom Argentina worth $6,963,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fiera Capital Corp purchased a new stake in shares of Telecom Argentina during the 2nd quarter worth about $5,164,000. Freestone Capital Holdings LLC raised its stake in shares of Telecom Argentina by 66.2% during the 2nd quarter. Freestone Capital Holdings LLC now owns 317,654 shares of the utilities provider’s stock worth $8,049,000 after purchasing an additional 126,578 shares in the last quarter. ThornTree Capital Partners LP purchased a new stake in shares of Telecom Argentina during the 2nd quarter worth about $2,721,000. Dorsey Wright & Associates purchased a new stake in shares of Telecom Argentina during the 2nd quarter worth about $1,052,000. Finally, Citigroup Inc. purchased a new stake in shares of Telecom Argentina during the 2nd quarter worth about $2,003,000. Hedge funds and other institutional investors own 6.01% of the company’s stock.
Telecom Argentina SA (NYSE:TEO) opened at $37.24 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.35. Telecom Argentina SA has a one year low of $17.83 and a one year high of $40.19. The firm has a market capitalization of $3,510.00, a P/E ratio of 18.53 and a beta of 1.48.
The business also recently disclosed a None dividend, which will be paid on Monday, January 8th. Investors of record on Thursday, December 28th will be paid a $1.219 dividend. This represents a dividend yield of 3.07%. The ex-dividend date of this dividend is Wednesday, December 27th.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Telecom Argentina from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. ValuEngine raised Telecom Argentina from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $29.67.
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About Telecom Argentina
Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).
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