Telefónica, S.A. (NYSE:TEF) Shares Bought by SVB Wealth LLC

Posted by Defense World Staff on May 29th, 2023

SVB Wealth LLC raised its holdings in Telefónica, S.A. (NYSE:TEF – Get Rating) by 61.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,316 shares of the utilities provider’s stock after purchasing an additional 9,673 shares during the period. SVB Wealth LLC’s holdings in Telefónica were worth $90,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Naviter Wealth LLC purchased a new stake in Telefónica in the 4th quarter worth $40,000. Prudential Financial Inc. purchased a new stake in shares of Telefónica during the third quarter worth about $42,000. First Affirmative Financial Network purchased a new stake in shares of Telefónica during the fourth quarter worth about $43,000. Wolverine Trading LLC purchased a new position in Telefónica in the 3rd quarter valued at about $45,000. Finally, Captrust Financial Advisors boosted its holdings in Telefónica by 88.3% in the 1st quarter. Captrust Financial Advisors now owns 10,116 shares of the utilities provider’s stock worth $49,000 after buying an additional 4,743 shares during the last quarter. 6.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TEF. StockNews.com upgraded Telefónica from a “hold” rating to a “buy” rating in a research report on Saturday, May 20th. Deutsche Bank Aktiengesellschaft cut shares of Telefónica from a “buy” rating to a “hold” rating in a research note on Monday, February 20th. TheStreet upgraded shares of Telefónica from a “c” rating to a “b” rating in a research report on Friday, May 5th. Finally, BNP Paribas upgraded shares of Telefónica from an “underperform” rating to an “outperform” rating in a research report on Thursday, March 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.60.

Telefónica Price Performance

NYSE TEF opened at $4.18 on Monday. The business’s fifty day simple moving average is $4.32 and its 200-day simple moving average is $3.98. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 1.13. The firm has a market cap of $24.14 billion, a PE ratio of 17.42 and a beta of 0.61. Telefónica, S.A. has a 52 week low of $3.10 and a 52 week high of $5.38.

Telefónica (NYSE:TEF – Get Rating) last issued its earnings results on Thursday, May 11th. The utilities provider reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $10.78 billion for the quarter, compared to the consensus estimate of $9.68 billion. Telefónica had a net margin of 3.92% and a return on equity of 6.14%. As a group, equities analysts anticipate that Telefónica, S.A. will post 0.44 earnings per share for the current year.

Telefónica Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 14th will be given a $0.118 dividend. The ex-dividend date is Tuesday, June 13th. This represents a yield of 5.3%. Telefónica’s payout ratio is 95.84%.

About Telefónica

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Telefónica SA engages in the provision of communication, information and entertainment solutions. It operates through the following brands: Telefónica, Movistar, O2, and Vivo. The company was founded on April 19, 1924 and is headquartered in Madrid, Spain.