Telefonica SA (NYSE:TEF) shares saw strong trading volume on Wednesday . 2,634,804 shares traded hands during trading, an increase of 12% from the previous session’s volume of 2,344,966 shares.The stock last traded at $9.64 and had previously closed at $9.55.

A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Telefonica SA from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Goldman Sachs Group Inc. downgraded Telefonica SA from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Credit Suisse Group AG downgraded Telefonica SA to a “hold” rating in a report on Thursday, May 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Telefonica SA in a report on Monday, May 23rd. Finally, Nomura Holdings Inc. downgraded Telefonica SA from a “neutral” rating to a “reduce” rating in a report on Thursday, April 7th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of €11.00 ($12.22).

The stock has a market capitalization of $47.58 billion and a P/E ratio of 29.69. The firm’s 50 day moving average price is $9.67 and its 200 day moving average price is $10.33.

A number of hedge funds have made changes to their positions in TEF. White Pine Investment CO increased its stake in shares of Telefonica SA by 3.1% in the fourth quarter. White Pine Investment CO now owns 251,129 shares of the company’s stock valued at $2,777,000 after buying an additional 7,483 shares during the last quarter. Comerica Bank increased its stake in Telefonica SA by 3.2% in the fourth quarter. Comerica Bank now owns 264,031 shares of the company’s stock worth $2,733,000 after buying an additional 8,228 shares in the last quarter. Profund Advisors LLC increased its stake in Telefonica SA by 16.7% in the fourth quarter. Profund Advisors LLC now owns 92,662 shares of the company’s stock worth $1,025,000 after buying an additional 13,268 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Telefonica SA by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 861,732 shares of the company’s stock worth $9,531,000 after buying an additional 84,811 shares in the last quarter. Finally, Deere & Co. increased its stake in Telefonica SA by 209.3% in the fourth quarter. Deere & Co. now owns 228,417 shares of the company’s stock worth $2,526,000 after buying an additional 154,563 shares in the last quarter.

Telefonica, SA is an integrated and diversified telecommunications group operating in Europe and Latin America. The Company’s services and products include Mobile business, Fixed-line telephony business and Digital services. The Company’s segments include Telefonica Spain, Telefonica Brazil, Telefonica Germany, Telefonica UK and Telefonica Hispanoamerica.

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