Telefonica SA (NYSE:TEF) gapped down prior to trading on Wednesday . The stock had previously closed at $9.87, but opened at $9.90. Telefonica SA shares last traded at $9.99, with a volume of 955,069 shares changing hands.

TEF has been the topic of a number of recent research reports. JPMorgan Chase & Co. restated a “buy” rating on shares of Telefonica SA in a report on Wednesday, May 11th. Zacks Investment Research lowered Telefonica SA from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Goldman Sachs Group Inc. lowered Telefonica SA from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Finally, Credit Suisse Group AG lowered Telefonica SA to a “hold” rating in a report on Thursday, May 26th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned 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 firm has a market cap of $58.49 billion and a price-to-earnings ratio of 28.43. The company has a 50 day moving average price of $9.57 and a 200 day moving average price of $10.27.

An institutional investor recently raised its position in Telefonica SA stock. Dimensional Fund Advisors LP raised its position in shares of Telefonica SA (NYSE:TEF) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 861,732 shares of the company’s stock after buying an additional 84,811 shares during the period. Dimensional Fund Advisors LP’s holdings in Telefonica SA were worth $9,531,000 as of its most recent filing with the SEC.

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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