Telecom Italia SpA (TI) Stake Lessened by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in Telecom Italia SpA (NYSE:TI) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,205 shares of the utilities provider’s stock after selling 5,991 shares during the period. JPMorgan Chase & Co.’s holdings in Telecom Italia were worth $1,277,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. ETRADE Capital Management LLC bought a new position in Telecom Italia during the second quarter valued at $100,000. Strategic Global Advisors LLC bought a new position in Telecom Italia during the second quarter valued at $178,000. Arrowstreet Capital Limited Partnership bought a new position in Telecom Italia during the second quarter valued at $194,000. Bank of New York Mellon Corp grew its holdings in Telecom Italia by 35.9% during the second quarter. Bank of New York Mellon Corp now owns 58,213 shares of the utilities provider’s stock valued at $544,000 after purchasing an additional 15,381 shares during the period. Finally, Stifel Financial Corp bought a new position in Telecom Italia during the second quarter valued at $1,225,000. 0.74% of the stock is owned by institutional investors.

TI has been the subject of several research reports. Zacks Investment Research lowered Telecom Italia from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Scotiabank reissued an “outperform” rating and set a $1.80 price objective on shares of Telecom Italia in a report on Wednesday, November 8th. Finally, Goldman Sachs Group lowered Telecom Italia from a “buy” rating to a “neutral” rating in a report on Monday, November 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $5.78.

Shares of Telecom Italia SpA (NYSE:TI) opened at $9.11 on Friday. The stock has a market capitalization of $18,200.00, a price-to-earnings ratio of 13.80 and a beta of 0.89. Telecom Italia SpA has a 12-month low of $7.50 and a 12-month high of $10.53. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.19.

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About Telecom Italia

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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Institutional Ownership by Quarter for Telecom Italia (NYSE:TI)

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