Telefonica SA (NYSE:TEF)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $9.60, but opened at $9.76. Telefonica SA shares last traded at $9.97, with a volume of 1,603,702 shares traded.

Several equities analysts have recently issued reports on TEF shares. Zacks Investment Research raised Telefonica SA from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Monday, April 18th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Telefonica SA in a report on Wednesday, May 11th. Nomura downgraded Telefonica SA from a “neutral” rating to a “reduce” rating in a report on Tuesday, April 5th. Credit Suisse Group AG upgraded Telefonica SA from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 6th. Finally, Goldman Sachs Group Inc. downgraded Telefonica SA from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Telefonica SA presently has an average rating of “Hold” and a consensus target price of €11.00 ($12.22).

The stock’s 50 day moving average price is $9.60 and its 200-day moving average price is $10.30. The stock has a market capitalization of $49.36 billion and a price-to-earnings ratio of 30.99.

A number of institutional investors have recently bought and sold shares of the company. 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 worth $14,643,000 after buying an additional 329,986 shares during the period. Dimensional Fund Advisors LP increased its position in shares of 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 during the last quarter. Comerica Bank increased its position in shares of 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 during the last quarter. Finally, Deere & Co. increased its position in shares of 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 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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