Franklin Resources Inc. reduced its stake in shares of Telefonica S.A. (NYSE:TEF) by 29.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,161,818 shares of the utilities provider’s stock after selling 2,544,227 shares during the period. Franklin Resources Inc. owned approximately 0.12% of Telefonica worth $64,021,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in TEF. Eagle Ridge Investment Management acquired a new stake in Telefonica during the 2nd quarter worth approximately $114,000. Sei Investments Co. raised its holdings in shares of Telefonica by 43.9% in the first quarter. Sei Investments Co. now owns 10,898 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 3,327 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Telefonica by 0.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 13,643 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 118 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Telefonica by 16.0% in the first quarter. Private Advisor Group LLC now owns 13,379 shares of the utilities provider’s stock valued at $148,000 after purchasing an additional 1,842 shares during the last quarter. Finally, Wedbush Securities Inc. raised its holdings in shares of Telefonica by 1.1% in the second quarter. Wedbush Securities Inc. now owns 14,357 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 0.93% of the company’s stock.

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Telefonica S.A. (NYSE:TEF) opened at 10.74 on Friday. The company’s 50-day moving average is $10.97 and its 200-day moving average is $10.96. Telefonica S.A. has a one year low of $8.15 and a one year high of $11.64. The firm has a market capitalization of $55.02 billion, a P/E ratio of 18.14 and a beta of 1.32.

Telefonica (NYSE:TEF) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $14.24 billion during the quarter, compared to analysts’ expectations of $15.01 billion. Telefonica had a net margin of 6.54% and a return on equity of 17.72%. Equities analysts forecast that Telefonica S.A. will post $0.89 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on the stock. BidaskClub upgraded shares of Telefonica from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. TheStreet upgraded shares of Telefonica from a “c” rating to a “b” rating in a report on Thursday, May 25th. BNP Paribas assumed coverage on shares of Telefonica in a report on Wednesday, May 31st. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded shares of Telefonica from a “strong sell” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Telefonica in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $10.81.

Telefonica Profile

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. Its segments include Telefonica Spain, Telefonica Brazil, Telefonica Germany, Telefonica United Kingdom and Telefonica Hispanoamerica (formed by the Company’s operators in Argentina, Chile, Peru, Colombia, Mexico, Venezuela and Central America, Ecuador and Uruguay).

Institutional Ownership by Quarter for Telefonica (NYSE:TEF)

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