Ethic Inc. Acquires 22,855 Shares of Telefonica SA $TEF

Ethic Inc. lifted its holdings in shares of Telefonica SA (NYSE:TEF) by 5.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 424,983 shares of the utilities provider’s stock after acquiring an additional 22,855 shares during the period. Ethic Inc.’s holdings in Telefonica were worth $2,206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atwood & Palmer Inc. purchased a new position in Telefonica during the second quarter worth about $44,000. Cromwell Holdings LLC boosted its holdings in Telefonica by 50.4% during the first quarter. Cromwell Holdings LLC now owns 10,031 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 3,361 shares during the last quarter. Momentous Wealth Management Inc. purchased a new position in Telefonica during the first quarter worth about $50,000. Hamilton Capital LLC purchased a new position in Telefonica during the first quarter worth about $58,000. Finally, Truist Financial Corp boosted its holdings in Telefonica by 26.1% during the second quarter. Truist Financial Corp now owns 14,945 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 3,094 shares during the last quarter. 1.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on TEF shares. BNP Paribas upgraded shares of Telefonica to a “strong sell” rating in a report on Tuesday. BNP Paribas Exane started coverage on shares of Telefonica in a report on Tuesday. They set an “underperform” rating and a $4.20 price target on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Telefonica in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Telefonica has an average rating of “Strong Sell” and an average price target of $4.20.

Telefonica Stock Up 0.1%

TEF opened at $5.24 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 1.47. The stock has a market cap of $29.68 billion, a price-to-earnings ratio of -10.91, a PEG ratio of 0.60 and a beta of 0.49. Telefonica SA has a twelve month low of $3.89 and a twelve month high of $5.72. The company’s 50-day moving average price is $5.24 and its two-hundred day moving average price is $5.18.

Telefonica (NYSE:TEF) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $9.03 billion. Telefonica had a negative net margin of 5.88% and a positive return on equity of 8.57%. As a group, equities analysts expect that Telefonica SA will post 0.3 earnings per share for the current year.

Telefonica Company 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.