QRG Capital Management Inc. Trims Position in Telefonica SA $TEF

QRG Capital Management Inc. cut its holdings in shares of Telefonica SA (NYSE:TEF) by 1.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 202,018 shares of the utilities provider’s stock after selling 3,861 shares during the quarter. QRG Capital Management Inc.’s holdings in Telefonica were worth $1,057,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in TEF. Atwood & Palmer Inc. bought a new stake in shares of Telefonica during the second quarter valued at approximately $44,000. Cromwell Holdings LLC boosted its position in shares of Telefonica by 50.4% during the first quarter. Cromwell Holdings LLC now owns 10,031 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 3,361 shares in the last quarter. Momentous Wealth Management Inc. bought a new stake in shares of Telefonica during the first quarter valued at approximately $50,000. Clarius Group LLC bought a new stake in shares of Telefonica during the first quarter valued at approximately $55,000. Finally, Hamilton Capital LLC bought a new stake in shares of Telefonica during the first quarter valued at approximately $58,000. 1.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on TEF shares. Berenberg Bank raised Telefonica to a “hold” rating in a report on Thursday, June 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Telefonica in a report on Wednesday. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Telefonica presently has a consensus rating of “Reduce”.

Telefonica Stock Up 0.6%

TEF stock opened at $5.01 on Thursday. Telefonica SA has a 1-year low of $3.89 and a 1-year high of $5.72. The business has a fifty day moving average price of $5.30 and a 200-day moving average price of $5.13. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.85 and a quick ratio of 0.81. The stock has a market capitalization of $28.41 billion, a P/E ratio of -10.44, a P/E/G ratio of 0.57 and a beta of 0.49.

Telefonica (NYSE:TEF) last posted its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. Telefonica had a positive return on equity of 8.57% and a negative net margin of 5.88%.The firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $9.03 billion. Equities analysts forecast that Telefonica SA will post 0.3 earnings per share for the current fiscal year.

Telefonica Profile

Telefónica, SA, together with its subsidiaries, provides telecommunications services in Europe and Latin America. The company offers mobile and related services and products, such as mobile voice, value added, mobile data and internet, wholesale, corporate, roaming, fixed wireless, and trunking and paging services.