International Assets Investment Management LLC Purchases New Shares in Telefónica, S.A. (NYSE:TEF)

International Assets Investment Management LLC purchased a new stake in Telefónica, S.A. (NYSE:TEF) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 44,894 shares of the utilities provider’s stock, valued at approximately $218,000.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in shares of Telefónica by 171.6% in the first quarter. EverSource Wealth Advisors LLC now owns 5,682 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 3,590 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Telefónica by 113.9% during the first quarter. Russell Investments Group Ltd. now owns 5,888 shares of the utilities provider’s stock worth $26,000 after buying an additional 3,135 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Telefónica during the first quarter worth about $34,000. Aaron Wealth Advisors LLC acquired a new stake in Telefónica during the second quarter worth about $45,000. Finally, Decatur Capital Management Inc. acquired a new stake in Telefónica during the second quarter worth about $70,000. 1.14% of the stock is currently owned by institutional investors and hedge funds.

Telefónica Trading Down 3.6 %

TEF opened at $4.50 on Thursday. The company’s 50 day moving average is $4.73 and its 200-day moving average is $4.55. Telefónica, S.A. has a 1-year low of $3.82 and a 1-year high of $4.93. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 1.37. The company has a market cap of $25.52 billion, a P/E ratio of -28.13 and a beta of 0.67.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEF. Hsbc Global Res upgraded shares of Telefónica to a “hold” rating in a research note on Wednesday, October 2nd. HSBC upgraded shares of Telefónica from a “reduce” rating to a “hold” rating in a research note on Wednesday, October 2nd. StockNews.com downgraded shares of Telefónica from a “buy” rating to a “hold” rating in a research note on Saturday, October 12th. Finally, Bank of America downgraded shares of Telefónica from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

About Telefónica

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.