Telefonica SA (NYSE:TEF) shares saw an uptick in trading volume on Wednesday . 2,634,804 shares changed hands during mid-day 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.

Several brokerages have weighed in on TEF. Zacks Investment Research downgraded Telefonica SA from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Nomura Holdings Inc. downgraded Telefonica SA from a “neutral” rating to a “reduce” rating in a report on Thursday, April 7th. 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. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Telefonica SA in a report on Monday, May 23rd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of €11.00 ($12.22).

The stock has a market capitalization of $48.10 billion and a PE ratio of 30.015. The stock has a 50-day moving average of $9.65 and a 200 day moving average of $10.32.

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in Telefonica SA by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 861,732 shares of the company’s stock valued at $9,531,000 after buying an additional 84,811 shares during the last quarter. Deere & Co. increased its position in Telefonica SA by 209.3% in the fourth quarter. Deere & Co. now owns 228,417 shares of the company’s stock valued at $2,526,000 after buying an additional 154,563 shares during the last quarter. Morgan Stanley increased its position in Telefonica SA by 33.2% in the fourth quarter. Morgan Stanley now owns 1,323,952 shares of the company’s stock valued at $14,643,000 after buying an additional 329,986 shares during the last quarter. White Pine Investment CO increased its position in 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. Finally, Comerica Bank increased its position in Telefonica SA by 3.2% in the fourth quarter. Comerica Bank now owns 264,031 shares of the company’s stock valued at $2,733,000 after buying an additional 8,228 shares during 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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