The BNP Paribas Arbitrage SA reduces its investment in Telefonica SA (TEF)

The BNP Paribas Arbitrage SA reduces its investment in Telefonica SA (TEF)

BNP Paribas Arbitrage SA lowered its stake in Telefonica SA (NYSE:TEF) by 13.1% during the third quarter, Holdings Channel reports. The fund owned 15,545 shares of the company’s stock after selling 2,344 shares during the period. BNP Paribas Arbitrage SA’s holdings in Telefonica SA were worth $157,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Gabelli Funds LLC increased its stake in Telefonica SA by 0.3% in the second quarter. Gabelli Funds LLC now owns 1,909,523 shares of the company’s stock valued at $18,102,000 after buying an additional 5,872 shares during the last quarter. 10 15 Associates Inc. increased its position in Telefonica SA by 5.1% in the second quarter. 10 15 Associates Inc. now owns 55,493 shares of the company’s stock worth $526,000 after buying an additional 2,687 shares in the last quarter. Taylor Frigon Capital Management LLC increased its position in Telefonica SA by 5.1% in the second quarter. Taylor Frigon Capital Management LLC now owns 59,757 shares of the company’s stock worth $566,000 after buying an additional 2,925 shares in the last quarter. World Asset Management Inc increased its position in Telefonica SA by 8.3% in the second quarter. World Asset Management Inc now owns 307,941 shares of the company’s stock worth $2,919,000 after buying an additional 23,630 shares in the last quarter. Finally, SOL Capital Management CO increased its position in Telefonica SA by 6.1% in the second quarter. SOL Capital Management CO now owns 55,480 shares of the company’s stock worth $526,000 after buying an additional 3,167 shares in the last quarter. Institutional investors and hedge funds own 1.36% of the company’s stock.

Telefonica SA (NYSE:TEF) opened at 9.64 on Monday. Telefonica SA has a 12-month low of $8.34 and a 12-month high of $13.53. The stock has a market cap of $56.49 billion, a PE ratio of 27.23 and a beta of 1.52. The firm has a 50-day moving average of $10.22 and a 200-day moving average of $10.19.

A number of research analysts recently issued reports on TEF shares. Zacks Investment Research upgraded shares of Telefonica SA from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research report on Tuesday, June 28th. Goldman Sachs Group Inc. downgraded shares of Telefonica SA from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of €11.00 ($12.22).

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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