BNP Paribas Financial Markets Raises Stock Holdings in Telefónica, S.A. (NYSE:TEF)

BNP Paribas Financial Markets lifted its holdings in shares of Telefónica, S.A. (NYSE:TEF) by 78.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 173,860 shares of the utilities provider’s stock after acquiring an additional 76,657 shares during the period. BNP Paribas Financial Markets’ holdings in Telefónica were worth $845,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TEF. Aaron Wealth Advisors LLC purchased a new stake in Telefónica in the 2nd quarter valued at approximately $45,000. GAMMA Investing LLC increased its stake in Telefónica by 92.3% in the 3rd quarter. GAMMA Investing LLC now owns 16,039 shares of the utilities provider’s stock valued at $78,000 after purchasing an additional 7,697 shares in the last quarter. Decatur Capital Management Inc. acquired a new stake in Telefónica in the 2nd quarter valued at about $70,000. Wedmont Private Capital purchased a new position in Telefónica during the 2nd quarter valued at about $76,000. Finally, Forum Financial Management LP purchased a new stake in shares of Telefónica in the second quarter valued at about $75,000. 1.14% of the stock is owned by hedge funds and other institutional investors.

Telefónica Stock Performance

Shares of TEF stock opened at $4.44 on Thursday. Telefónica, S.A. has a 12 month low of $3.82 and a 12 month high of $4.93. The firm has a market capitalization of $25.18 billion, a P/E ratio of -17.08 and a beta of 0.66. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.85 and a quick ratio of 0.81. The company’s fifty day moving average price is $4.59 and its two-hundred day moving average price is $4.55.

Telefónica Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, January 10th. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.1576 per share. This represents a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, December 18th. Telefónica’s payout ratio is currently -88.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TEF shares. StockNews.com cut Telefónica from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. Hsbc Global Res upgraded Telefónica to a “hold” rating in a report on Wednesday, October 2nd. Finally, HSBC raised shares of Telefónica from a “reduce” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, Telefónica presently has an average rating of “Hold”.

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.