SOL Capital Management CO cut its holdings in Telefonica S.A. (NYSE:TEF) by 16.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 53,873 shares of the utilities provider’s stock after selling 10,402 shares during the period. SOL Capital Management CO’s holdings in Telefonica were worth $521,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TEF. Bank of New York Mellon Corp increased its stake in Telefonica by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 180,198 shares of the utilities provider’s stock valued at $1,872,000 after purchasing an additional 7,317 shares during the period. JPMorgan Chase & Co. increased its stake in Telefonica by 80.4% in the second quarter. JPMorgan Chase & Co. now owns 94,776 shares of the utilities provider’s stock valued at $984,000 after purchasing an additional 42,249 shares during the period. Wells Fargo & Company MN increased its stake in Telefonica by 15.8% in the second quarter. Wells Fargo & Company MN now owns 376,449 shares of the utilities provider’s stock valued at $3,912,000 after purchasing an additional 51,326 shares during the period. Ameriprise Financial Inc. increased its stake in Telefonica by 3.1% in the second quarter. Ameriprise Financial Inc. now owns 111,755 shares of the utilities provider’s stock valued at $1,165,000 after purchasing an additional 3,316 shares during the period. Finally, Citigroup Inc. increased its stake in Telefonica by 3.6% in the second quarter. Citigroup Inc. now owns 84,844 shares of the utilities provider’s stock valued at $882,000 after purchasing an additional 2,971 shares during the period. Institutional investors own 0.92% of the company’s stock.

Telefonica S.A. (NYSE:TEF) opened at $10.24 on Thursday. Telefonica S.A. has a one year low of $9.37 and a one year high of $11.64. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.79. The stock has a market cap of $51,738.25, a PE ratio of 6.04 and a beta of 1.30.

A number of research firms have commented on TEF. Zacks Investment Research upgraded shares of Telefonica from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Monday, October 16th. Barclays upgraded shares of Telefonica from an “underweight” rating to an “equal weight” rating in a research note on Friday, October 20th. DZ Bank reiterated a “neutral” rating on shares of Telefonica in a research note on Wednesday, January 24th. Raymond James Financial upgraded shares of Telefonica from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 17th. Finally, Citigroup upgraded shares of Telefonica to an “outperform” rating in a research note on Wednesday, January 17th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Telefonica currently has a consensus rating of “Hold” and an average target price of $11.70.

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About Telefonica

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).

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Institutional Ownership by Quarter for Telefonica (NYSE:TEF)

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