Park Avenue Securities LLC purchased a new position in shares of Telefónica, S.A. (NYSE:TEF – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 13,020 shares of the utilities provider’s stock, valued at approximately $42,000.
Other institutional investors also recently modified their holdings of the company. Ronald Blue Trust Inc. acquired a new stake in shares of Telefónica during the 2nd quarter worth approximately $39,000. Captrust Financial Advisors grew its holdings in Telefónica by 88.3% during the first quarter. Captrust Financial Advisors now owns 10,116 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 4,743 shares during the period. International Assets Investment Management LLC acquired a new position in Telefónica during the second quarter valued at approximately $52,000. Integrated Wealth Concepts LLC acquired a new position in Telefónica during the second quarter valued at approximately $54,000. Finally, Azimuth Capital Investment Management LLC acquired a new position in Telefónica during the second quarter valued at approximately $63,000. Institutional investors and hedge funds own 6.13% of the company’s stock.
Telefónica Stock Performance
Shares of TEF stock opened at $3.89 on Wednesday. The company’s fifty day simple moving average is $3.68 and its 200-day simple moving average is $3.83. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 1.13. The firm has a market cap of $22.47 billion, a PE ratio of 389.39 and a beta of 0.61. Telefónica, S.A. has a 12 month low of $3.10 and a 12 month high of $5.39.
Telefónica Increases Dividend
The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Wednesday, December 14th were given a $0.1553 dividend. This represents a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, December 13th. This is a positive change from Telefónica’s previous semi-annual dividend of $0.10. Telefónica’s payout ratio is currently 2,302.30%.
Wall Street Analysts Forecast Growth
TEF has been the subject of a number of analyst reports. The Goldman Sachs Group upgraded shares of Telefónica from a “neutral” rating to a “buy” rating in a report on Wednesday, December 14th. JPMorgan Chase & Co. decreased their price objective on shares of Telefónica from €2.70 ($2.93) to €2.50 ($2.72) and set an “underweight” rating for the company in a report on Thursday, January 5th. StockNews.com upgraded shares of Telefónica from a “hold” rating to a “buy” rating in a report on Tuesday, December 13th. Credit Suisse Group lifted their price target on shares of Telefónica from €4.10 ($4.46) to €4.20 ($4.57) and gave the company a “neutral” rating in a research note on Thursday, November 17th. Finally, Barclays lifted their price target on shares of Telefónica from €3.90 ($4.24) to €4.10 ($4.46) in a research note on Monday, November 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.00.
Telefónica SA engages in the provision of communication, information and entertainment solutions. It operates through the following brands: Telefónica, Movistar, O2, and Vivo. The company was founded on April 19, 1924 and is headquartered in Madrid, Spain.
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