Garner Asset Management Corp acquired a new stake in shares of Telefonica SA (NYSE:TEF) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,340 shares of the utilities provider’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sei Investments Co. raised its position in Telefonica SA by 43.9% during the first quarter. Sei Investments Co. now owns 10,898 shares of the utilities provider’s stock valued at $122,000 after acquiring an additional 3,327 shares in the last quarter. Eagle Ridge Investment Management bought a new position in Telefonica SA during the second quarter valued at approximately $114,000. Advisor Group Inc. raised its position in Telefonica SA by 3.1% during the second quarter. Advisor Group Inc. now owns 13,355 shares of the utilities provider’s stock valued at $138,000 after acquiring an additional 406 shares in the last quarter. Private Advisor Group LLC raised its position in Telefonica SA by 16.0% during the first quarter. Private Advisor Group LLC now owns 13,379 shares of the utilities provider’s stock valued at $148,000 after acquiring an additional 1,842 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in Telefonica SA by 31.9% during the second quarter. Raymond James Trust N.A. now owns 13,452 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 3,252 shares in the last quarter. 0.93% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities analysts recently weighed in on the stock. Berenberg Bank raised shares of Telefonica SA from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research downgraded Telefonica SA from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. J P Morgan Chase & Co downgraded Telefonica SA from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 5th. Citigroup Inc. reiterated a “buy” rating on shares of Telefonica SA in a report on Monday, September 4th. Finally, ValuEngine downgraded Telefonica SA from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $11.00.

Shares of Telefonica SA (NYSE TEF) remained flat at $10.79 on Friday. 1,076,845 shares of the company’s stock traded hands. Telefonica SA has a 1-year low of $8.15 and a 1-year high of $11.64. The firm has a market capitalization of $55.28 billion, a price-to-earnings ratio of 18.16 and a beta of 1.32. The stock has a 50 day moving average price of $10.93 and a 200-day moving average price of $10.99.

Telefonica SA (NYSE:TEF) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $14.24 billion for the quarter, compared to analyst estimates of $15.01 billion. Telefonica SA had a return on equity of 29.02% and a net margin of 5.18%. On average, equities analysts predict that Telefonica SA will post $0.89 earnings per share for the current year.

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. 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).

Institutional Ownership by Quarter for Telefonica SA (NYSE:TEF)

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