48,028 Shares in Telecom Argentina Stet – France Telecom S.A. $TEO Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA bought a new position in shares of Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) in the first quarter, HoldingsChannel.com reports. The firm bought 48,028 shares of the utilities provider’s stock, valued at approximately $561,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RWC Asset Management LLP increased its holdings in shares of Telecom Argentina Stet – France Telecom by 50.7% in the 4th quarter. RWC Asset Management LLP now owns 1,009,244 shares of the utilities provider’s stock valued at $11,717,000 after acquiring an additional 339,416 shares during the period. Sagil Capital LLP bought a new stake in Telecom Argentina Stet – France Telecom during the fourth quarter valued at about $7,629,000. Banco BTG Pactual S.A. purchased a new position in Telecom Argentina Stet – France Telecom in the third quarter valued at about $2,725,000. UBS Group AG grew its stake in Telecom Argentina Stet – France Telecom by 25.7% in the fourth quarter. UBS Group AG now owns 293,659 shares of the utilities provider’s stock valued at $3,409,000 after purchasing an additional 60,033 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in Telecom Argentina Stet – France Telecom by 317.8% in the third quarter. Two Sigma Investments LP now owns 204,172 shares of the utilities provider’s stock worth $1,484,000 after purchasing an additional 155,299 shares in the last quarter.

Telecom Argentina Stet – France Telecom Stock Up 0.7%

NYSE:TEO opened at $13.06 on Friday. The company has a market cap of $5.63 billion, a PE ratio of 25.61 and a beta of 1.35. Telecom Argentina Stet – France Telecom S.A. has a twelve month low of $6.43 and a twelve month high of $16.34. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $13.03 and its two-hundred day moving average is $12.13.

Analyst Ratings Changes

TEO has been the subject of several analyst reports. Weiss Ratings raised shares of Telecom Argentina Stet – France Telecom from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. lifted their price objective on shares of Telecom Argentina Stet – France Telecom from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 9th. Wall Street Zen upgraded shares of Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Zacks Research cut shares of Telecom Argentina Stet – France Telecom from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Morgan Stanley upgraded shares of Telecom Argentina Stet – France Telecom from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $13.00 to $17.00 in a research note on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $15.55.

Insider Activity at Telecom Argentina Stet – France Telecom

In related news, Director Alejandro Alberto Urricelqui acquired 38,890 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average cost of $13.43 per share, with a total value of $522,292.70. Following the completion of the acquisition, the director directly owned 399,348 shares of the company’s stock, valued at $5,363,243.64. This represents a 10.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

About Telecom Argentina Stet – France Telecom

Telecom Argentina Stet – France Telecom (NYSE:TEO) is an integrated telecommunications provider based in Buenos Aires, Argentina. Originally formed through the 1990 privatization of the state-owned Empresa Nacional de Telecomunicaciones (ENTel), the company was initially backed by Italian state carrier STET and French operator France Télécom. Since its listing on the New York Stock Exchange under the ticker TEO, Telecom Argentina has evolved into one of the country’s principal communications groups, offering a comprehensive portfolio of voice and data services.

The company’s core business activities span fixed-line telephony, mobile services, broadband internet and digital television.