Park Avenue Securities LLC Trims Holdings in Telefonica SA $TEF

Park Avenue Securities LLC reduced its holdings in shares of Telefonica SA (NYSE:TEF) by 13.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,772 shares of the utilities provider’s stock after selling 2,064 shares during the quarter. Park Avenue Securities LLC’s holdings in Telefonica were worth $67,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. bought a new position in Telefonica during the second quarter worth $44,000. Cromwell Holdings LLC lifted its stake in Telefonica by 50.4% during the first quarter. Cromwell Holdings LLC now owns 10,031 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 3,361 shares during the last quarter. Momentous Wealth Management Inc. bought a new position in Telefonica during the first quarter worth $50,000. Clarius Group LLC acquired a new stake in Telefonica in the first quarter worth $55,000. Finally, Hamilton Capital LLC acquired a new stake in Telefonica in the first quarter worth $58,000. 1.14% of the stock is currently owned by institutional investors.

Telefonica Stock Down 1.3%

Shares of TEF stock opened at $5.02 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.81 and a current ratio of 0.85. The stock’s 50 day simple moving average is $5.32 and its 200 day simple moving average is $5.12. The company has a market capitalization of $28.44 billion, a price-to-earnings ratio of -10.45, a PEG ratio of 0.58 and a beta of 0.49. Telefonica SA has a twelve month low of $3.89 and a twelve month high of $5.72.

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

Analysts Set New Price Targets

Separately, Berenberg Bank raised Telefonica to a “hold” rating in a report on Thursday, June 26th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Telefonica presently has a consensus rating of “Reduce”.

About Telefonica

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.