Northern Trust Corp Sells 32,199 Shares of Telecom Argentina Stet – France Telecom S.A. (TEO)

Northern Trust Corp decreased its holdings in Telecom Argentina Stet – France Telecom S.A. (NYSE:TEO) by 36.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,291 shares of the utilities provider’s stock after selling 32,199 shares during the period. Northern Trust Corp’s holdings in Telecom Argentina Stet – France Telecom were worth $1,452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. William Blair Investment Management LLC purchased a new position in shares of Telecom Argentina Stet – France Telecom in the second quarter worth about $1,499,000. Freestone Capital Holdings LLC boosted its position in shares of Telecom Argentina Stet – France Telecom by 66.2% in the second quarter. Freestone Capital Holdings LLC now owns 317,654 shares of the utilities provider’s stock valued at $8,049,000 after acquiring an additional 126,578 shares during the period. Alliancebernstein L.P. boosted its position in shares of Telecom Argentina Stet – France Telecom by 3.1% in the second quarter. Alliancebernstein L.P. now owns 555,270 shares of the utilities provider’s stock valued at $14,071,000 after acquiring an additional 16,750 shares during the period. Morgan Stanley boosted its position in shares of Telecom Argentina Stet – France Telecom by 2.3% in the first quarter. Morgan Stanley now owns 159,771 shares of the utilities provider’s stock valued at $3,545,000 after acquiring an additional 3,593 shares during the period. Finally, BT Investment Management Ltd bought a new position in shares of Telecom Argentina Stet – France Telecom in the second quarter valued at approximately $721,000. Hedge funds and other institutional investors own 6.04% of the company’s stock.

Telecom Argentina Stet – France Telecom S.A. (NYSE TEO) traded down $0.09 during mid-day trading on Tuesday, hitting $35.99. 217,700 shares of the stock were exchanged, compared to its average volume of 180,120. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.93 and a quick ratio of 0.84. Telecom Argentina Stet – France Telecom S.A. has a one year low of $17.04 and a one year high of $38.54. The company has a market capitalization of $6,993.46, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.52 and a beta of 1.48.

A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Telecom Argentina Stet – France Telecom from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective for the company in a research report on Saturday, August 12th. Morgan Stanley lowered shares of Telecom Argentina Stet – France Telecom from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $25.00 to $28.00 in a research report on Thursday, August 10th. BidaskClub upgraded shares of Telecom Argentina Stet – France Telecom from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Finally, ValuEngine upgraded shares of Telecom Argentina Stet – France Telecom from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $29.67.

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Telecom Argentina Stet – France Telecom Company Profile

Telecom Argentina SA provides fixed-line telecommunications services in Argentina, and also provides other telephone-related services, such as international long-distance service, data transmission, information technology solutions outsourcing and Internet services. The Company’s segments include Fixed Telecommunications Services (Fixed Services), Personal Mobile Telecommunications Services (Personal Mobile Services) and Nucleo Mobile Telecommunications Services (Nucleo Mobile Services).

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Institutional Ownership by Quarter for Telecom Argentina Stet - France Telecom (NYSE:TEO)

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