Bank of Montreal Can Sells 38,111 Shares of Telefónica, S.A. (NYSE:TEF)

Bank of Montreal Can reduced its position in shares of Telefónica, S.A. (NYSE:TEF) by 5.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 644,844 shares of the utilities provider’s stock after selling 38,111 shares during the period. Bank of Montreal Can’s holdings in Telefónica were worth $2,902,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TEF. Crossmark Global Holdings Inc. grew its position in Telefónica by 1.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 373,929 shares of the utilities provider’s stock worth $1,459,000 after acquiring an additional 6,066 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Telefónica by 2.6% during the fourth quarter. Gabelli Funds LLC now owns 1,519,000 shares of the utilities provider’s stock worth $5,924,000 after purchasing an additional 39,000 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of Telefónica by 43.5% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 66,000 shares of the utilities provider’s stock valued at $257,000 after buying an additional 20,000 shares in the last quarter. Morningstar Investment Services LLC raised its holdings in shares of Telefónica by 101.0% in the fourth quarter. Morningstar Investment Services LLC now owns 197,962 shares of the utilities provider’s stock valued at $774,000 after buying an additional 99,488 shares during the last quarter. Finally, Auxier Asset Management lifted its position in Telefónica by 15.2% during the 4th quarter. Auxier Asset Management now owns 184,036 shares of the utilities provider’s stock worth $718,000 after buying an additional 24,227 shares in the last quarter. 1.14% of the stock is owned by institutional investors.

Telefónica Stock Performance

Shares of NYSE:TEF opened at $4.78 on Thursday. The firm’s 50 day simple moving average is $4.62 and its 200 day simple moving average is $4.47. Telefónica, S.A. has a fifty-two week low of $3.71 and a fifty-two week high of $4.93. The company has a market capitalization of $27.08 billion, a price-to-earnings ratio of -29.84 and a beta of 0.67. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.81.

Telefónica (NYSE:TEF) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.11 earnings per share for the quarter, topping 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 company had revenue of $11.04 billion for the quarter, compared to analysts’ expectations of $10.85 billion. As a group, sell-side analysts forecast that Telefónica, S.A. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Bank of America downgraded Telefónica from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. StockNews.com raised Telefónica from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. HSBC upgraded Telefónica from a “reduce” rating to a “hold” rating in a report on Wednesday. New Street Research cut Telefónica from a “strong-buy” rating to a “hold” rating in a report on Friday, July 5th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Telefónica from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on 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.