Pictet Asset Management Holding SA Purchases New Holdings in Telecom Argentina Stet – France Telecom S.A. $TEO

Pictet Asset Management Holding SA acquired a new position in Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 48,028 shares of the utilities provider’s stock, valued at approximately $561,000.

Several other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp bought a new position in shares of Telecom Argentina Stet – France Telecom during the third quarter valued at approximately $43,000. EFG International AG bought a new stake in shares of Telecom Argentina Stet – France Telecom during the 4th quarter worth approximately $58,000. Qube Research & Technologies Ltd purchased a new position in Telecom Argentina Stet – France Telecom during the 3rd quarter valued at $98,000. Engineers Gate Manager LP purchased a new position in Telecom Argentina Stet – France Telecom during the 2nd quarter valued at $110,000. Finally, Hsbc Holdings PLC bought a new position in Telecom Argentina Stet – France Telecom in the 4th quarter valued at $171,000.

Insider Buying and Selling at Telecom Argentina Stet – France Telecom

In other Telecom Argentina Stet – France Telecom news, Director Alejandro Alberto Urricelqui acquired 38,890 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average cost of $13.43 per share, with a total value of $522,292.70. Following the completion of the purchase, the director directly owned 399,348 shares in the company, valued at $5,363,243.64. The trade was a 10.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

Telecom Argentina Stet – France Telecom Trading Up 0.7%

Shares of NYSE TEO opened at $13.06 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $13.03 and a two-hundred day simple moving average of $12.13. The firm has a market cap of $5.63 billion, a PE ratio of 25.61 and a beta of 1.35. Telecom Argentina Stet – France Telecom S.A. has a twelve month low of $6.43 and a twelve month high of $16.34.

Analysts Set New Price Targets

A number of analysts have weighed in on TEO shares. Scotiabank increased their target price on Telecom Argentina Stet – France Telecom from $8.60 to $9.20 and gave the stock a “sector underperform” rating in a research note on Wednesday, May 27th. Morgan Stanley upgraded shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $13.00 to $17.00 in a report on Wednesday, June 24th. JPMorgan Chase & Co. raised their price target on shares of Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 9th. Zacks Research lowered shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, Weiss Ratings raised shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Telecom Argentina Stet – France Telecom has a consensus rating of “Hold” and a consensus target price of $15.55.

Telecom Argentina Stet – France Telecom Profile

Telecom Argentina Stet – France Telecom (NYSE:TEO) is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country’s principal communications groups, offering a comprehensive portfolio of voice and data services.

The company’s core business activities span fixed-line telephony, mobile services, broadband internet and digital television.