According to Zacks, “The Telecom Italia Group is engaged principally in the communication sector that operates mainly in Europe, the Mediterranean Basin and South America. This includes telephone and data services on fixed lines (for final retail customers and wholesale providers), the development of fiber optic networks for wholesale customers, BroadBand services, Internet services, domestic and international mobile telecommunications (especially in Brazil), and the television sector using both analog and digital terrestrial technology. The Group also operates businesses in the office products sector. “
Separately, ValuEngine raised shares of Westpac Banking from a sell rating to a hold rating in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $4.00.
Institutional investors have recently added to or reduced their stakes in the business. Covenant Multifamily Offices LLC purchased a new position in shares of Telecom Italia during the 1st quarter worth about $60,000. Geode Capital Management LLC lifted its holdings in shares of Telecom Italia by 73.4% during the 4th quarter. Geode Capital Management LLC now owns 39,275 shares of the utilities provider’s stock worth $217,000 after acquiring an additional 16,627 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Telecom Italia by 13.6% during the 4th quarter. Bank of New York Mellon Corp now owns 73,386 shares of the utilities provider’s stock worth $407,000 after acquiring an additional 8,766 shares during the period. Redwood Investment Management LLC purchased a new position in shares of Telecom Italia during the 1st quarter worth about $507,000. Finally, OLD Mission Capital LLC lifted its holdings in shares of Telecom Italia by 153.9% during the 4th quarter. OLD Mission Capital LLC now owns 178,791 shares of the utilities provider’s stock worth $992,000 after acquiring an additional 108,379 shares during the period. 0.83% of the stock is currently owned by institutional investors.
Telecom Italia Company Profile
Telecom Italia S.p.A., together with its subsidiaries, provides fixed and mobile telecommunications services in Europe, South America, and the Mediterranean Basin. The company operates through Domestic, Brazil, and Other Operations segments. It offers fixed and mobile voice and Internet, and public telephony services, as well as products managed and developed for individuals and families; and voice, data, and Internet services and products, and information and communications technology solutions for small and medium-size enterprises, small offices/home offices, the public sector, large accounts, and enterprises in the fixed and mobile telecommunications markets.
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