Telefonica SA $TEF Shares Bought by Drive Wealth Management LLC

Drive Wealth Management LLC raised its holdings in Telefonica SA (NYSE:TEF) by 18.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,995 shares of the utilities provider’s stock after purchasing an additional 4,433 shares during the period. Drive Wealth Management LLC’s holdings in Telefonica were worth $157,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Atwood & Palmer Inc. acquired a new stake in shares of Telefonica in the second quarter worth approximately $44,000. Cromwell Holdings LLC boosted its stake in shares of Telefonica by 50.4% in the first quarter. Cromwell Holdings LLC now owns 10,031 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 3,361 shares during the last quarter. Momentous Wealth Management Inc. acquired a new stake in shares of Telefonica in the first quarter worth approximately $50,000. Hamilton Capital LLC acquired a new stake in shares of Telefonica in the first quarter worth approximately $58,000. Finally, May Hill Capital LLC acquired a new stake in shares of Telefonica in the first quarter worth approximately $78,000. 1.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TEF. Berenberg Bank raised Telefonica to a “hold” rating in a research note on Thursday, June 26th. BNP Paribas Exane began coverage on Telefonica in a research note on Tuesday. They issued an “underperform” rating and a $4.20 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Telefonica in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Telefonica currently has a consensus rating of “Strong Sell” and an average target price of $4.20.

Telefonica Stock Performance

NYSE TEF opened at $5.24 on Wednesday. The stock’s fifty day moving average is $5.26 and its two-hundred day moving average is $5.16. The firm has a market capitalization of $29.68 billion, a P/E ratio of -10.91, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.81 and a current ratio of 0.85. Telefonica SA has a fifty-two week low of $3.89 and a fifty-two week high of $5.72.

Telefonica (NYSE:TEF) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $10.28 billion for the quarter, compared to analyst estimates of $9.03 billion. Telefonica had a positive return on equity of 8.57% and a negative net margin of 5.88%. On average, research analysts anticipate that Telefonica SA will post 0.3 earnings per share for the current year.

Telefonica Company Profile

Telefónica, SA, together with its subsidiaries, provides telecommunications services in Europe and Latin America. The company offers mobile and related services and products, such as mobile voice, value added, mobile data and internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.