Letko Brosseau & Associates Inc. cut its holdings in shares of Telefonica S.A. (NYSE:TEF) by 33.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,810 shares of the utilities provider’s stock after selling 10,776 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Telefonica were worth $181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Parametric Portfolio Associates LLC boosted its position in Telefonica by 5.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,981,850 shares of the utilities provider’s stock worth $16,568,000 after acquiring an additional 93,712 shares during the period. First Trust Advisors LP boosted its position in 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 acquiring an additional 21,831 shares during the period. Duff & Phelps Investment Management Co. acquired a new stake in Telefonica during the 1st quarter worth about $5,124,000. Bank of America Corp DE boosted its position in Telefonica by 10.6% during the 4th quarter. Bank of America Corp DE now owns 609,533 shares of the utilities provider’s stock worth $5,157,000 after acquiring an additional 58,453 shares during the period. Finally, FMR LLC boosted its position in Telefonica by 2.4% during the 1st quarter. FMR LLC now owns 542,495 shares of the utilities provider’s stock worth $4,535,000 after acquiring an additional 12,853 shares during the period. Hedge funds and other institutional investors own 0.95% of the company’s stock.

TEF has been the subject of a number of research reports. Zacks Investment Research upgraded Telefonica from a “sell” rating to a “hold” rating and set a $8.50 price objective for the company in a research report on Tuesday, May 28th. Deutsche Bank reiterated a “buy” rating on shares of Telefonica in a report on Friday, May 24th. ValuEngine upgraded Telefonica from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. DZ Bank upgraded Telefonica from a “hold” rating to a “buy” rating in a report on Tuesday, May 14th. Finally, UBS Group lowered Telefonica from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $8.50.

Shares of Telefonica stock traded down $0.04 during trading on Thursday, hitting $6.54. 39,118 shares of the stock traded hands, compared to its average volume of 1,591,558. The company has a market capitalization of $34.16 billion, a PE ratio of 6.92, a P/E/G ratio of 0.59 and a beta of 0.67. The company has a current ratio of 0.84, a quick ratio of 0.79 and a debt-to-equity ratio of 1.98. Telefonica S.A. has a twelve month low of $6.57 and a twelve month high of $9.08. The business’s fifty day moving average is $7.92.

Telefonica (NYSE:TEF) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $13.65 billion during the quarter, compared to analyst estimates of $13.54 billion. Telefonica had a return on equity of 16.21% and a net margin of 7.27%. As a group, analysts forecast that Telefonica S.A. will post 0.88 earnings per share for the current fiscal year.

About Telefonica

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.

Further Reading: Calculating net profit and net profit margin ratio

Institutional Ownership by Quarter for Telefonica (NYSE:TEF)

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