Telefónica (NYSE:TEF) Reaches New 12-Month High - Here's Why

Telefónica, S.A. (NYSE:TEF - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.07 and last traded at $5.06, with a volume of 553513 shares changing hands. The stock had previously closed at $4.97.

Analysts Set New Price Targets

TEF has been the subject of several recent research reports. StockNews.com raised Telefónica from a "hold" rating to a "buy" rating in a report on Wednesday, March 5th. Sanford C. Bernstein began coverage on Telefónica in a research report on Tuesday, April 22nd. They issued a "market perform" rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold".

Telefónica Price Performance

The stock has a market cap of $28.63 billion, a price-to-earnings ratio of -19.42 and a beta of 0.46. 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's 50-day moving average is $4.67 and its 200-day moving average is $4.42.

Hedge Funds Weigh In On Telefónica

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its position in Telefónica by 71.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,236 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 2,603 shares during the period. Callan Family Office LLC acquired a new stake in shares of Telefónica in the 4th quarter valued at $44,000. Drive Wealth Management LLC bought a new stake in shares of Telefónica in the 4th quarter worth about $45,000. Prospect Financial Group LLC acquired a new stake in shares of Telefónica during the 4th quarter worth about $45,000. Finally, Merit Financial Group LLC bought a new position in Telefónica during the 4th quarter valued at about $47,000. 1.14% of the stock is owned by institutional investors and hedge funds.

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.