StockNews.com upgraded shares of Telefónica (NYSE:TEF - Free Report) from a hold rating to a buy rating in a research report released on Wednesday.
Telefónica Price Performance
Shares of NYSE:TEF traded up $0.07 during midday trading on Wednesday, reaching $4.53. 921,580 shares of the company's stock were exchanged, compared to its average volume of 668,270. The firm has a market capitalization of $25.69 billion, a PE ratio of -17.42 and a beta of 0.68. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.85. The company's 50 day simple moving average is $4.15 and its two-hundred day simple moving average is $4.43. Telefónica has a 12 month low of $3.89 and a 12 month high of $4.93.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of TEF. Charles Schwab Investment Management Inc. increased its stake in shares of Telefónica by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 308,396 shares of the utilities provider's stock valued at $1,499,000 after buying an additional 24,854 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Telefónica by 293.4% in the third quarter. JPMorgan Chase & Co. now owns 35,412 shares of the utilities provider's stock worth $172,000 after acquiring an additional 26,410 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Telefónica by 274.0% in the third quarter. Point72 Asset Management L.P. now owns 316,566 shares of the utilities provider's stock worth $1,539,000 after acquiring an additional 231,919 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Telefónica in the third quarter worth about $45,000. Finally, Merit Financial Group LLC bought a new position in shares of Telefónica in the fourth quarter worth about $47,000. Institutional investors own 1.14% of the company's stock.
About Telefónica
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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.
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