Peapack Gladstone Financial Corp Sells 11,036 Shares of Telefónica, S.A. (NYSE:TEF)

Peapack Gladstone Financial Corp lowered its stake in shares of Telefónica, S.A. (NYSE:TEF) by 24.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,963 shares of the utilities provider’s stock after selling 11,036 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Telefónica were worth $165,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TEF. Nia Impact Advisors LLC acquired a new stake in shares of Telefónica during the 2nd quarter worth $3,645,000. Point72 Asset Management L.P. increased its holdings 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. Natixis Advisors LLC raised its position in shares of Telefónica by 81.2% in the 2nd quarter. Natixis Advisors LLC now owns 696,563 shares of the utilities provider’s stock valued at $2,933,000 after buying an additional 312,113 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Telefónica by 79.0% during the 3rd quarter. Cerity Partners LLC now owns 322,692 shares of the utilities provider’s stock worth $1,568,000 after acquiring an additional 142,451 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Telefónica during the 3rd quarter worth approximately $218,000. Institutional investors own 1.14% of the company’s stock.

Telefónica Stock Down 0.5 %

Shares of NYSE:TEF opened at $4.40 on Tuesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.85. Telefónica, S.A. has a 52-week low of $3.82 and a 52-week high of $4.93. The company has a market capitalization of $24.95 billion, a PE ratio of -16.92 and a beta of 0.66. The company has a fifty day moving average of $4.56 and a 200-day moving average of $4.54.

Telefónica Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TEF shares. StockNews.com upgraded Telefónica from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Hsbc Global Res raised Telefónica to a “hold” rating in a research note on Wednesday, October 2nd. Finally, HSBC raised Telefónica from a “reduce” rating to a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

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.