Gabelli Funds LLC Trims Holdings in Telefonica S.A. (TEF)

Gabelli Funds LLC lowered its position in Telefonica S.A. (NYSE:TEF) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,675,033 shares of the utilities provider’s stock after selling 21,510 shares during the quarter. Gabelli Funds LLC’s holdings in Telefonica were worth $13,166,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. People s United Financial Inc. bought a new stake in shares of Telefonica in the 2nd quarter worth approximately $926,000. Cornerstone Wealth Management LLC lifted its position in shares of Telefonica by 298.0% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 11,989 shares of the utilities provider’s stock worth $1,132,000 after buying an additional 8,977 shares during the period. Advisor Partners LLC bought a new position in shares of Telefonica during the 2nd quarter worth approximately $105,000. Zweig DiMenna Associates LLC bought a new position in shares of Telefonica during the 2nd quarter worth approximately $143,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Telefonica by 77.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 32,917 shares of the utilities provider’s stock worth $281,000 after buying an additional 14,334 shares during the period. Institutional investors own 0.83% of the company’s stock.

Telefonica stock opened at $8.51 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 1.88. The company has a market cap of $43.87 billion, a P/E ratio of 10.13 and a beta of 0.74. Telefonica S.A. has a one year low of $7.70 and a one year high of $10.57.

Telefonica (NYSE:TEF) last issued its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. Telefonica had a return on equity of 16.65% and a net margin of 7.25%. The firm had revenue of $13.60 billion during the quarter. On average, equities research analysts forecast that Telefonica S.A. will post 0.94 EPS for the current fiscal year.

Several research firms recently commented on TEF. ValuEngine upgraded Telefonica from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Zacks Investment Research downgraded Telefonica from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 10th. Goldman Sachs Group downgraded Telefonica from a “buy” rating to a “neutral” rating in a research report on Friday, July 20th. Jefferies Financial Group upgraded Telefonica from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Finally, JPMorgan Chase & Co. downgraded Telefonica from a “neutral” rating to an “underweight” rating in a research report on Tuesday, September 11th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $11.00.

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Telefonica Profile

Telefónica, SA provides mobile and fixed communication services primarily in the European Union and Latin America. The company's mobile and related services and products comprise mobile voice, value added, mobile data and Internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.

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Institutional Ownership by Quarter for Telefonica (NYSE:TEF)

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