Telefonica SA (NYSE:TEF) gapped up before the market opened on Tuesday . The stock had previously closed at $9.69, but opened at $9.76. Telefonica SA shares last traded at $9.91, with a volume of 1,431,715 shares traded.

TEF has been the subject of several research analyst reports. Zacks Investment Research lowered Telefonica SA from a “buy” rating to a “hold” rating in a research note on Tuesday, April 26th. Credit Suisse Group AG lowered Telefonica SA to a “hold” rating in a research note on Thursday, May 26th. Goldman Sachs Group Inc. lowered Telefonica SA from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 28th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Telefonica SA in a research note on Monday, May 23rd. Four research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of €11.00 ($12.22).

The firm has a market capitalization of $59.01 billion and a PE ratio of 28.69. The company’s 50-day moving average price is $9.57 and its 200 day moving average price is $10.27.

An institutional investor recently raised its position in Telefonica SA stock. Dimensional Fund Advisors LP raised its stake in Telefonica SA (NYSE:TEF) by 10.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund 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 SEC filing.

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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