Concurrent Investment Advisors LLC Has $138,000 Holdings in Telefónica, S.A. (NYSE:TEF)

Concurrent Investment Advisors LLC lifted its holdings in Telefónica, S.A. (NYSE:TEF) by 62.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,838 shares of the utilities provider’s stock after acquiring an additional 12,603 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Telefónica were worth $138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TEF. EverSource Wealth Advisors LLC boosted its holdings in shares of Telefónica by 171.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,682 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 3,590 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Telefónica by 113.9% in the 1st quarter. Russell Investments Group Ltd. now owns 5,888 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 3,135 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Telefónica in the 1st quarter worth approximately $34,000. D Orazio & Associates Inc. acquired a new position in shares of Telefónica in the 4th quarter worth approximately $43,000. Finally, Principal Street Partners LLC bought a new position in Telefónica in the 4th quarter worth approximately $45,000. 1.14% of the stock is owned by institutional investors and hedge funds.

Telefónica Stock Performance

Shares of Telefónica stock opened at $4.69 on Friday. The firm has a fifty day moving average of $4.45 and a two-hundred day moving average of $4.38. The stock has a market capitalization of $26.59 billion, a price-to-earnings ratio of -29.31 and a beta of 0.68. Telefónica, S.A. has a 52 week low of $3.71 and a 52 week high of $4.80. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.81 and a current ratio of 0.85.

Telefónica (NYSE:TEF) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Telefónica had a negative net margin of 1.62% and a positive return on equity of 9.18%. The business had revenue of $11.04 billion during the quarter, compared to analysts’ expectations of $10.85 billion. As a group, equities research analysts predict that Telefónica, S.A. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Telefónica from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. New Street Research cut shares of Telefónica from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 5th. Bank of America cut shares of Telefónica from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Telefónica from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold”.

About Telefónica

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.