Point72 Asset Management L.P. Buys 231,919 Shares of Telefónica, S.A. (NYSE:TEF)

Point72 Asset Management L.P. lifted its stake in shares of Telefónica, S.A. (NYSE:TEF) by 274.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 316,566 shares of the utilities provider’s stock after acquiring an additional 231,919 shares during the quarter. Point72 Asset Management L.P.’s holdings in Telefónica were worth $1,539,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TEF. Wedmont Private Capital purchased a new position in Telefónica in the 2nd quarter worth approximately $76,000. Blue Trust Inc. lifted its holdings in Telefónica by 171.1% in the 2nd quarter. Blue Trust Inc. now owns 33,686 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 21,260 shares in the last quarter. Aaron Wealth Advisors LLC purchased a new position in Telefónica in the 2nd quarter worth approximately $45,000. Bank of New York Mellon Corp lifted its holdings in Telefónica by 21.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,212 shares of the utilities provider’s stock worth $485,000 after purchasing an additional 20,393 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Telefónica by 295.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 30,200 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 22,572 shares in the last quarter. 1.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TEF. StockNews.com cut Telefónica from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. Hsbc Global Res raised Telefónica to a “hold” rating in a report on Wednesday, October 2nd. Finally, HSBC raised Telefónica from a “reduce” rating to a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, Telefónica presently has an average rating of “Hold”.

Telefónica Stock Down 1.2 %

Shares of TEF opened at $4.46 on Wednesday. The stock has a market capitalization of $25.26 billion, a price-to-earnings ratio of -17.12 and a beta of 0.66. Telefónica, S.A. has a 1 year low of $3.82 and a 1 year high of $4.93. The business’s 50 day simple moving average is $4.60 and its 200-day simple moving average is $4.55. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.85 and a quick ratio of 0.81.

Telefónica Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, January 10th. Investors of record on Wednesday, December 18th will be issued a dividend of $0.1576 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a yield of 5.2%. Telefónica’s payout ratio is presently -88.46%.

About Telefónica

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.