Perigon Wealth Management LLC Cuts Holdings in Telefónica, S.A. (NYSE:TEF)

Perigon Wealth Management LLC reduced its holdings in shares of Telefónica, S.A. (NYSE:TEF) by 28.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,426 shares of the utilities provider’s stock after selling 5,046 shares during the quarter. Perigon Wealth Management LLC’s holdings in Telefónica were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of TEF. Cambridge Investment Research Advisors Inc. raised its position in Telefónica by 5.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 52,101 shares of the utilities provider’s stock worth $212,000 after buying an additional 2,837 shares during the last quarter. Raymond James & Associates grew its stake in shares of Telefónica by 1.2% in the first quarter. Raymond James & Associates now owns 243,816 shares of the utilities provider’s stock worth $1,170,000 after acquiring an additional 2,876 shares during the period. BNP Paribas Arbitrage SNC raised its holdings in shares of Telefónica by 26.1% during the second quarter. BNP Paribas Arbitrage SNC now owns 14,008 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 2,895 shares during the last quarter. Gitterman Wealth Management LLC lifted its position in Telefónica by 9.3% during the third quarter. Gitterman Wealth Management LLC now owns 35,614 shares of the utilities provider’s stock valued at $145,000 after purchasing an additional 3,029 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Telefónica by 9.3% in the first quarter. Franklin Resources Inc. now owns 36,272 shares of the utilities provider’s stock worth $155,000 after purchasing an additional 3,092 shares during the last quarter. 1.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Telefónica from a “buy” rating to a “hold” rating in a report on Monday, March 11th.

Telefónica Price Performance

Telefónica stock opened at $4.22 on Friday. The business has a 50-day simple moving average of $4.17 and a two-hundred day simple moving average of $4.08. Telefónica, S.A. has a 52-week low of $3.71 and a 52-week high of $4.53. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.85 and a current ratio of 0.89.

Telefónica (NYSE:TEF) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $10.93 billion during the quarter, compared to analyst estimates of $12.09 billion. Telefónica had a negative net margin of 2.16% and a positive return on equity of 7.38%. During the same period in the previous year, the business posted $0.12 earnings per share. On average, sell-side analysts predict that Telefónica, S.A. will post 0.33 earnings per share for the current year.

Telefónica 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.