Telefonica SA (NYSE:TEF) saw unusually-high trading volume on Friday . Approximately 1,159,917 shares were traded during mid-day trading, a decline of 7% from the previous session’s volume of 1,250,314 shares.The stock last traded at $9.88 and had previously closed at $9.89.

A number of research firms have commented on TEF. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Telefonica SA in a report on Wednesday, May 11th. Credit Suisse Group AG downgraded shares of Telefonica SA to a “hold” rating in a report on Thursday, May 26th. Zacks Investment Research downgraded shares of Telefonica SA from a “buy” rating to a “hold” rating in a report on Tuesday, June 14th. Finally, Goldman Sachs Group Inc. downgraded shares of 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 assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of €11.00 ($12.50).

The stock has a market capitalization of $57.84 billion and a price-to-earnings ratio of 27.57. The stock has a 50 day moving average price of $9.78 and a 200 day moving average price of $10.24.

An institutional investor recently raised its position in Telefonica SA stock. Morgan Stanley boosted its position in Telefonica SA (NYSE:TEF) by 33.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,323,952 shares of the company’s stock after buying an additional 329,986 shares during the period. Morgan Stanley’s holdings in Telefonica SA were worth $14,643,000 at the end of the most recent reporting period.

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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