BlackRock continues to take steps forward in the capital of Telephone. The American giant has made its fifth consecutive increase in participation and has increased its presence in the operator to 6.24%, a package built with shares and financial instruments that has a market value of 1,300 million euros (US$1,478 million).
The buying offensive is being especially intense this month of June, in which BlackRock has raised its share twice in Telephone compared to 5.94% that it controlled in April. The current levels are the highest reflected in the records of the National Securities Market Commission, cnmv, and consolidate the manager as the operator’s fourth largest shareholder.
Evolution of Telefónica shares
The latest purchases have occurred in an adverse scenario for the operator’s price, which between June 15 and 22 saw six consecutive falls to 3.60 euros (US$4.09).
In this period, the group has paid the second tranche of the dividend corresponding to 2025. On June 18, Telefónica distributed 0.15 euros in cash per share, which represented a disbursement of approximately 850 million euros (US$966 million).
This payment completed last year’s total dividend of 0.30 euros (US$0.34) per share, the first tranche of which, also 0.15 euros (US$0.17) in cash, was paid last December. Telefónica will reduce by half the dividend it will pay out of 2026 results, to 0.15 euros (US$0.17) per title.
After the stock market correction, the stock rebounded on Tuesday, 2.59% to 3.69 euros (US$4.20) per share. Yesterday, it corrected slightly, 0.3%. So far this year, Telefónica has advanced 5.3%.
The action is still far from the year’s highs set in May at 3.94 euros. On the 14th of that month, Telephone It rose 5.79% and signed the largest increase since November 2021 after publishing the results for the first quarter of the year. The group ratified all the objectives planned for 2026 and the group’s CEO, Emilio Gay, announced that “during the second half of the year, we will present the conclusions of the strategic review that we are carrying out.”
An impulse that, however, was short-lived. Since the presentation of the accounts In the first three months of the year, the operator’s price has corrected 9%. A decline that has expanded the upward potential to levels close to 10%.
Recommendations
Currently, analysts give Telephone an average valuation of 4.02 euros per share, according to the consensus of Bloomberg. Since the correction from the May highs began, analysts have kept the average price target unchanged.
However, there are more firms that recommend buying: eight, compared to five that recommend selling. Almost 60% of the firms that cover the value are committed to maintaining positions
