PNC Financial Services Group Inc. Trims Holdings in Telefónica, S.A. (NYSE:TEF)

PNC Financial Services Group Inc. lowered its stake in shares of Telefónica, S.A. (NYSE:TEF) by 17.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,298 shares of the utilities provider’s stock after selling 8,003 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Telefónica were worth $149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in TEF. D Orazio & Associates Inc. acquired a new position in Telefónica during the 4th quarter worth $43,000. Sapient Capital LLC acquired a new position in Telefónica in the fourth quarter worth about $45,000. Principal Street Partners LLC bought a new stake in Telefónica in the fourth quarter valued at about $45,000. Trust Point Inc. acquired a new stake in Telefónica during the fourth quarter valued at approximately $48,000. Finally, Financial Counselors Inc. bought a new position in Telefónica during the 4th quarter worth approximately $49,000. Institutional investors own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

TEF has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded Telefónica from a “hold” rating to a “sell” rating in a report on Thursday, June 13th. StockNews.com raised shares of Telefónica from a “hold” rating to a “buy” rating in a report on Saturday, June 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Telefónica currently has a consensus rating of “Hold”.

Telefónica Price Performance

TEF opened at $4.25 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.91 and a debt-to-equity ratio of 1.25. The company’s 50-day moving average price is $4.45 and its 200 day moving average price is $4.24. Telefónica, S.A. has a fifty-two week low of $3.71 and a fifty-two week high of $4.80. The firm has a market cap of $24.10 billion, a price-to-earnings ratio of -26.56 and a beta of 0.68.

Telefónica (NYSE:TEF) last announced its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Telefónica had a positive return on equity of 7.84% and a negative net margin of 1.57%. The business had revenue of $11.01 billion for the quarter, compared to analysts’ expectations of $10.96 billion. As a group, sell-side analysts expect that Telefónica, S.A. will post 0.34 earnings per share for the current year.

Telefónica Cuts Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Thursday, July 11th. Shareholders of record on Tuesday, June 18th will be paid a $0.1628 dividend. This represents a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 18th. Telefónica’s payout ratio is -143.75%.

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.