Cubic Asset Management LLC Cuts Holdings in Telefonica S.A. (TEF)
Cubic Asset Management LLC lowered its position in shares of Telefonica S.A. (NYSE:TEF) by 30.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,260 shares of the utilities provider’s stock after selling 10,664 shares during the quarter. Cubic Asset Management LLC’s holdings in Telefonica were worth $235,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in shares of Telefonica by 7.5% during the second quarter. Goldman Sachs Group Inc. now owns 1,868,884 shares of the utilities provider’s stock valued at $19,418,000 after purchasing an additional 130,157 shares during the last quarter. BTC Capital Management Inc. bought a new position in shares of Telefonica during the third quarter valued at approximately $490,000. OxFORD Asset Management LLP grew its holdings in shares of Telefonica by 6.2% during the third quarter. OxFORD Asset Management LLP now owns 238,870 shares of the utilities provider’s stock valued at $2,577,000 after purchasing an additional 13,926 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Telefonica by 5,601.9% during the third quarter. Assetmark Inc. now owns 160,395 shares of the utilities provider’s stock valued at $1,731,000 after purchasing an additional 157,582 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Telefonica by 18.8% during the third quarter. Parametric Portfolio Associates LLC now owns 1,769,565 shares of the utilities provider’s stock valued at $19,094,000 after purchasing an additional 280,112 shares during the last quarter. 0.91% of the stock is owned by institutional investors.
TEF has been the subject of several recent research reports. ValuEngine lowered Telefonica from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research raised Telefonica from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Monday, October 16th. Berenberg Bank raised Telefonica from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Barclays raised Telefonica from an “underweight” rating to an “equal weight” rating in a report on Friday, October 20th. Finally, Credit Suisse Group lowered Telefonica to a “hold” rating in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $11.70.
Telefonica (NYSE:TEF) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter. Telefonica had a return on equity of 29.25% and a net margin of 4.95%. analysts anticipate that Telefonica S.A. will post 0.85 earnings per share for the current fiscal year.
The firm also recently disclosed a semiannual dividend, which was paid on Wednesday, December 27th. Investors of record on Wednesday, December 13th were issued a $0.2383 dividend. This represents a yield of 4.67%. The ex-dividend date of this dividend was Tuesday, December 12th. Telefonica’s dividend payout ratio (DPR) is 68.63%.
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Telefonica Company Profile
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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