Bank of America Corp DE Has $36.14 Million Stock Position in Telefónica, S.A. (NYSE:TEF)

Bank of America Corp DE lowered its holdings in Telefónica, S.A. (NYSE:TEF - Free Report) by 17.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,990,801 shares of the utilities provider's stock after selling 1,949,805 shares during the quarter. Bank of America Corp DE owned 0.16% of Telefónica worth $36,143,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TEF. Tower Research Capital LLC TRC grew its stake in shares of Telefónica by 71.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,236 shares of the utilities provider's stock worth $25,000 after acquiring an additional 2,603 shares during the last quarter. Callan Family Office LLC acquired a new stake in Telefónica in the 4th quarter worth $44,000. Drive Wealth Management LLC acquired a new stake in Telefónica in the 4th quarter worth $45,000. Prospect Financial Group LLC bought a new position in shares of Telefónica during the 4th quarter worth about $45,000. Finally, Merit Financial Group LLC acquired a new position in shares of Telefónica during the fourth quarter valued at about $47,000. 1.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on TEF shares. Sanford C. Bernstein started coverage on Telefónica in a research report on Tuesday, April 22nd. They set a "market perform" rating on the stock. StockNews.com downgraded shares of Telefónica from a "buy" rating to a "hold" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Telefónica Price Performance

NYSE:TEF traded up $0.10 on Monday, reaching $5.01. The stock had a trading volume of 446,328 shares, compared to its average volume of 702,645. The company has a quick ratio of 0.81, a current ratio of 0.85 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $28.41 billion, a P/E ratio of -19.27 and a beta of 0.46. Telefónica, S.A. has a 1-year low of $3.89 and a 1-year high of $5.15. The stock has a fifty day moving average price of $4.77 and a 200-day moving average price of $4.44.

Telefónica (NYSE:TEF - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The utilities provider reported $0.08 earnings per share for the quarter, meeting analysts' consensus estimates of $0.08. Telefónica had a positive return on equity of 10.10% and a negative net margin of 2.84%. The firm had revenue of $9.70 billion during the quarter, compared to analysts' expectations of $10.06 billion. Research analysts forecast that Telefónica, S.A. will post 0.3 EPS for the current year.

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.