Janney Montgomery Scott LLC Boosts Stake in Telefonica SA (TEF)
Janney Montgomery Scott LLC boosted its stake in Telefonica SA (NYSE:TEF) by 108.5% during the second quarter, Holdings Channel reports. The fund owned 24,020 shares of the company’s stock after buying an additional 12,498 shares during the period. Janney Montgomery Scott LLC’s holdings in Telefonica SA were worth $247,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of TEF. Capstone Asset Management Co. boosted its stake in shares of Telefonica SA by 66.1% in the first quarter. Capstone Asset Management Co. now owns 971,832 shares of the company’s stock valued at $10,816,000 after buying an additional 386,805 shares during the last quarter. BlackRock Inc. acquired a new position in Telefonica SA during the first quarter worth $3,133,000. Aperio Group LLC boosted its position in Telefonica SA by 51.7% in the first quarter. Aperio Group LLC now owns 781,901 shares of the company’s stock worth $8,703,000 after buying an additional 266,584 shares in the last quarter. Mondrian Investment Partners LTD boosted its position in Telefonica SA by 10.0% in the first quarter. Mondrian Investment Partners LTD now owns 2,588,026 shares of the company’s stock worth $28,805,000 after buying an additional 235,485 shares in the last quarter. Finally, UBS Group AG boosted its position in Telefonica SA by 16.7% in the first quarter. UBS Group AG now owns 595,822 shares of the company’s stock worth $6,632,000 after buying an additional 85,256 shares in the last quarter. Hedge funds and other institutional investors own 1.37% of the company’s stock.
Telefonica SA (NYSE:TEF) traded down 0.88% during trading on Friday, reaching $10.13. The company had a trading volume of 1,071,811 shares. The firm’s 50 day moving average is $10.02 and its 200-day moving average is $10.27. Telefonica SA has a 12 month low of $8.34 and a 12 month high of $13.53. The company has a market capitalization of $59.36 billion, a P/E ratio of 28.54 and a beta of 1.47.
A number of research firms have recently weighed in on TEF. Zacks Investment Research cut Telefonica SA from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Telefonica SA in a report on Monday, May 23rd. Goldman Sachs Group Inc. cut Telefonica SA from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Finally, Credit Suisse Group AG cut Telefonica SA to a “hold” rating in a report on Thursday, May 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of €11.00 ($12.22).
About Telefonica SA
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. The Company’s segments include Telefonica Spain, Telefonica Brazil, Telefonica Germany, Telefonica UK and Telefonica Hispanoamerica.
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