Citigroup Inc. Sells 120,917 Shares of Telefônica Brasil S.A. (NYSE:VIV)

Citigroup Inc. trimmed its holdings in shares of Telefônica Brasil S.A. (NYSE:VIV - Free Report) by 15.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 676,746 shares of the Wireless communications provider's stock after selling 120,917 shares during the period. Citigroup Inc.'s holdings in Telefônica Brasil were worth $6,950,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bleakley Financial Group LLC increased its holdings in Telefônica Brasil by 5.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 19,539 shares of the Wireless communications provider's stock valued at $201,000 after purchasing an additional 1,080 shares during the period. Kathmere Capital Management LLC increased its stake in shares of Telefônica Brasil by 4.1% during the second quarter. Kathmere Capital Management LLC now owns 28,877 shares of the Wireless communications provider's stock valued at $237,000 after buying an additional 1,150 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Telefônica Brasil by 5.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 23,708 shares of the Wireless communications provider's stock valued at $243,000 after acquiring an additional 1,236 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Telefônica Brasil by 2.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 56,552 shares of the Wireless communications provider's stock worth $464,000 after acquiring an additional 1,558 shares during the period. Finally, Natixis Advisors LLC lifted its stake in Telefônica Brasil by 2.8% in the third quarter. Natixis Advisors LLC now owns 85,787 shares of the Wireless communications provider's stock worth $881,000 after acquiring an additional 2,304 shares during the period. 5.16% of the stock is currently owned by institutional investors.

Telefônica Brasil Stock Down 5.2 %

Shares of Telefônica Brasil stock traded down $0.45 on Friday, reaching $8.21. The company's stock had a trading volume of 745,474 shares, compared to its average volume of 605,827. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Telefônica Brasil S.A. has a 52 week low of $8.01 and a 52 week high of $11.43. The company has a market capitalization of $13.66 billion, a price-to-earnings ratio of 13.03, a P/E/G ratio of 0.79 and a beta of 0.81. The firm's fifty day simple moving average is $9.38 and its two-hundred day simple moving average is $9.08.

Telefônica Brasil (NYSE:VIV - Get Free Report) last issued its earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. The company had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.52 billion. Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. During the same quarter last year, the company posted $0.18 earnings per share. Equities analysts anticipate that Telefônica Brasil S.A. will post 0.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of Telefônica Brasil from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 25th. Barclays increased their target price on Telefônica Brasil from $11.50 to $11.80 and gave the stock an "equal weight" rating in a research note on Monday, November 25th. Finally, Scotiabank upped their price target on shares of Telefônica Brasil from $9.20 to $10.40 and gave the stock a "sector perform" rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $11.07.

Telefônica Brasil Profile

Telefônica Brasil SA, together with its subsidiaries, operates as a mobile telecommunications company in Brazil. Its fixed line services portfolio includes local, domestic long-distance, and international long-distance calls; and mobile portfolio comprises voice and broadband internet access through 3G, 4G, 4.5G, and 5G, as well as mobile value-added and wireless roaming services.