The JPMorgan Chase & Co. Raises Stake in Telefonica SA (TEF)

The JPMorgan Chase & Co. Raises Stake in Telefonica SA (TEF)

JPMorgan Chase & Co. boosted its position in Telefonica SA (NYSE:TEF) by 19.0% during the second quarter, Holdings Channel reports. The firm owned 112,280 shares of the company’s stock after buying an additional 17,899 shares during the period. JPMorgan Chase & Co.’s holdings in Telefonica SA were worth $1,064,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TEF. BNP Paribas Arbitrage SA increased its stake in Telefonica SA by 188.8% in the second quarter. BNP Paribas Arbitrage SA now owns 17,889 shares of the company’s stock worth $170,000 after buying an additional 11,694 shares during the period. Private Bank & Trust Co. increased its stake in Telefonica SA by 27.6% in the second quarter. Private Bank & Trust Co. now owns 19,311 shares of the company’s stock worth $183,000 after buying an additional 4,176 shares during the period. Commonwealth Equity Services Inc boosted its position in shares of Telefonica SA by 3.8% in the second quarter. Commonwealth Equity Services Inc now owns 24,975 shares of the company’s stock valued at $237,000 after buying an additional 913 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Telefonica SA by 108.5% in the second quarter. Janney Montgomery Scott LLC now owns 24,020 shares of the company’s stock valued at $247,000 after buying an additional 12,498 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Telefonica SA by 4.7% in the first quarter. M&T Bank Corp now owns 30,085 shares of the company’s stock valued at $335,000 after buying an additional 1,358 shares in the last quarter. 1.36% of the stock is owned by hedge funds and other institutional investors.

Telefonica SA (NYSE:TEF) traded up 1.21% during mid-day trading on Friday, hitting $10.03. The stock had a trading volume of 1,677,734 shares. The stock has a 50-day moving average price of $10.08 and a 200 day moving average price of $10.09. The firm has a market cap of $58.78 billion, a P/E ratio of 29.24 and a beta of 1.52. Telefonica SA has a 12-month low of $8.34 and a 12-month high of $13.53.

Several brokerages recently weighed in on TEF. Credit Suisse Group AG upgraded Telefonica SA to a “buy” rating in a research report on Friday. Zacks Investment Research upgraded Telefonica SA from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Wednesday, August 31st. Finally, Royal Bank Of Canada began coverage on Telefonica SA in a research report on Thursday, October 20th. They set an “underperform” rating for the company. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Telefonica SA currently has a consensus rating of “Hold” and a consensus price target of €11.00 ($12.09).

Telefonica SA Company Profile

Telefonica, SA is an integrated and diversified telecommunications group operating in Europe and Latin America. The Company’s services and products include Mobile business, Fixed-line telephony business and Digital services. The Company’s segments include Telefonica Spain, Telefonica Brazil, Telefonica Germany, Telefonica UK and Telefonica Hispanoamerica.

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