Park Avenue Securities LLC Sells 2,834 Shares of Telefónica, S.A. (NYSE:TEF)

Park Avenue Securities LLC trimmed its position in Telefónica, S.A. (NYSE:TEF) by 19.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,440 shares of the utilities provider’s stock after selling 2,834 shares during the quarter. Park Avenue Securities LLC’s holdings in Telefónica were worth $56,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TEF. EverSource Wealth Advisors LLC raised its holdings in Telefónica by 171.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,682 shares of the utilities provider’s stock valued at $25,000 after buying an additional 3,590 shares during the period. Russell Investments Group Ltd. raised its holdings in Telefónica by 113.9% in the first quarter. Russell Investments Group Ltd. now owns 5,888 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 3,135 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Telefónica during the first quarter valued at approximately $34,000. HighPoint Advisor Group LLC acquired a new position in shares of Telefónica during the fourth quarter worth $45,000. Finally, Aaron Wealth Advisors LLC purchased a new stake in Telefónica in the second quarter valued at about $45,000. 1.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TEF shares. Bank of America lowered shares of Telefónica from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. New Street Research downgraded shares of Telefónica from a “strong-buy” rating to a “hold” rating in a report on Friday, July 5th. StockNews.com cut shares of Telefónica from a “buy” rating to a “hold” rating in a report on Saturday. Hsbc Global Res raised shares of Telefónica to a “hold” rating in a report on Wednesday, October 2nd. Finally, HSBC upgraded Telefónica from a “reduce” rating to a “hold” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Telefónica Stock Performance

TEF opened at $4.78 on Tuesday. The company has a market cap of $27.10 billion, a price-to-earnings ratio of -29.88 and a beta of 0.67. The firm’s fifty day simple moving average is $4.66 and its two-hundred day simple moving average is $4.50. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. Telefónica, S.A. has a 52-week low of $3.71 and a 52-week high of $4.93.

Telefónica (NYSE:TEF) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. Telefónica had a positive return on equity of 9.18% and a negative net margin of 1.62%. The company had revenue of $11.04 billion for the quarter, compared to analysts’ expectations of $10.85 billion. Equities analysts anticipate that Telefónica, S.A. will post 0.34 earnings per share for the current fiscal year.

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.