Telefónica (NYSE:TEF) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Telefónica (NYSE:TEF) from a buy rating to a hold rating in a research note released on Tuesday morning.

Telefónica Price Performance

Shares of TEF opened at $4.45 on Tuesday. The firm has a 50-day simple moving average of $4.11 and a two-hundred day simple moving average of $4.43. 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 has a 1-year low of $3.89 and a 1-year high of $4.93. The stock has a market cap of $25.20 billion, a PE ratio of -17.10 and a beta of 0.68.

Telefónica Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, January 10th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.1576 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a dividend yield of 5.2%. Telefónica’s dividend payout ratio is currently -84.62%.

Hedge Funds Weigh In On Telefónica

Hedge funds have recently bought and sold shares of the company. Northern Trust Corp grew its position in Telefónica by 30.7% in the 4th quarter. Northern Trust Corp now owns 3,622,588 shares of the utilities provider’s stock valued at $14,563,000 after acquiring an additional 851,581 shares in the last quarter. Drum Hill Capital LLC acquired a new position in shares of Telefónica in the fourth quarter valued at approximately $2,001,000. First Trust Advisors LP increased its stake in Telefónica by 36.7% during the 4th quarter. First Trust Advisors LP now owns 963,584 shares of the utilities provider’s stock worth $3,874,000 after buying an additional 258,489 shares during the period. Raymond James Financial Inc. acquired a new stake in Telefónica during the 4th quarter worth approximately $1,022,000. Finally, Point72 Asset Management L.P. boosted its position in Telefónica by 274.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 316,566 shares of the utilities provider’s stock valued at $1,539,000 after buying an additional 231,919 shares during the period. Institutional investors and hedge funds own 1.14% of the company’s stock.

Telefónica Company 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.