Telefónica (NYSE:TEF) Upgraded at StockNews.com

StockNews.com upgraded shares of Telefónica (NYSE:TEF) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

A number of other research firms have also recently commented on TEF. Hsbc Global Res upgraded Telefónica to a “hold” rating in a research report on Wednesday, October 2nd. HSBC upgraded Telefónica from a “reduce” rating to a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Telefónica Price Performance

Shares of Telefónica stock opened at $4.42 on Thursday. The firm has a market cap of $25.06 billion, a PE ratio of -17.00 and a beta of 0.66. Telefónica has a twelve month low of $3.82 and a twelve month high of $4.93. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 1.33. The business has a 50-day moving average price of $4.57 and a 200 day moving average price of $4.54.

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 issued a dividend of $0.1576 per share. The ex-dividend date is Wednesday, December 18th. This represents a dividend yield of 5.2%. Telefónica’s dividend payout ratio is presently -88.46%.

Institutional Investors Weigh In On Telefónica

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEF. Wedmont Private Capital purchased a new stake in Telefónica in the second quarter valued at approximately $76,000. Blue Trust Inc. lifted its holdings in Telefónica by 171.1% during the 2nd quarter. Blue Trust Inc. now owns 33,686 shares of the utilities provider’s stock worth $149,000 after buying an additional 21,260 shares in the last quarter. Aaron Wealth Advisors LLC purchased a new position in Telefónica in the 2nd quarter valued at approximately $45,000. Bank of New York Mellon Corp grew its stake in shares of Telefónica by 21.5% in the second quarter. Bank of New York Mellon Corp now owns 115,212 shares of the utilities provider’s stock worth $485,000 after acquiring an additional 20,393 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Telefónica by 295.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 30,200 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 22,572 shares during the period. Institutional investors and hedge funds own 1.14% of the company’s stock.

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.