Dimensional Fund Advisors LP held its position in shares of Telecom Italia S.P.A. (NYSE:TI) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,517,413 shares of the utilities provider’s stock at the end of the first quarter. Dimensional Fund Advisors LP owned about 0.12% of Telecom Italia S.P.A. worth $22,682,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC acquired a new position in Telecom Italia S.P.A. during the first quarter valued at $730,000. Gabelli Funds LLC increased its stake in Telecom Italia S.P.A. by 1.6% in the first quarter. Gabelli Funds LLC now owns 382,000 shares of the utilities provider’s stock valued at $3,442,000 after buying an additional 6,000 shares during the period. Ameriprise Financial Inc. increased its stake in Telecom Italia S.P.A. by 24.2% in the first quarter. Ameriprise Financial Inc. now owns 15,632 shares of the utilities provider’s stock valued at $141,000 after buying an additional 3,050 shares during the period. Karp Capital Management Corp purchased a new stake in Telecom Italia S.P.A. during the first quarter valued at about $1,094,000. Finally, JPMorgan Chase & Co. increased its stake in Telecom Italia S.P.A. by 13.6% in the first quarter. JPMorgan Chase & Co. now owns 151,106 shares of the utilities provider’s stock valued at $1,361,000 after buying an additional 18,070 shares during the period. 0.77% of the stock is owned by institutional investors and hedge funds.
Telecom Italia S.P.A. (NYSE TI) traded down 1.20% during mid-day trading on Friday, hitting $9.87. 185,544 shares of the company were exchanged. Telecom Italia S.P.A. has a 12-month low of $7.10 and a 12-month high of $10.53. The company has a 50 day moving average of $9.83 and a 200 day moving average of $9.18. The stock has a market cap of $20.79 billion, a P/E ratio of 13.16 and a beta of 1.04.
Several research firms recently issued reports on TI. Zacks Investment Research raised shares of Telecom Italia S.P.A. from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Thursday, June 29th. BidaskClub raised shares of Telecom Italia S.P.A. from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.00.
About Telecom Italia S.P.A.
Telecom Italia S.p.A. (Telecom Italia) operates fixed voice and data infrastructure in Italy, and provides mobile network platforms. The Company focuses on various areas of digital services, including Enriched Communication, Trusted Digital Life, Business Life, Indoor Life, Mobile Open Life and Digital Entertainment.
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