Frank Rimerman Advisors LLC Sells 68,153 Shares of Telefônica Brasil S.A. (NYSE:VIV)

Frank Rimerman Advisors LLC lessened its holdings in Telefônica Brasil S.A. (NYSE:VIV - Free Report) by 66.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,411 shares of the Wireless communications provider's stock after selling 68,153 shares during the quarter. Frank Rimerman Advisors LLC's holdings in Telefônica Brasil were worth $353,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ballentine Partners LLC lifted its stake in shares of Telefônica Brasil by 75.3% in the third quarter. Ballentine Partners LLC now owns 35,518 shares of the Wireless communications provider's stock worth $365,000 after buying an additional 15,260 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Telefônica Brasil by 87.5% in the third quarter. Blue Trust Inc. now owns 6,026 shares of the Wireless communications provider's stock worth $62,000 after buying an additional 2,812 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Telefônica Brasil by 5.9% in the third quarter. Bleakley Financial Group LLC now owns 19,539 shares of the Wireless communications provider's stock worth $201,000 after buying an additional 1,080 shares in the last quarter. Creative Planning lifted its position in Telefônica Brasil by 23.2% during the third quarter. Creative Planning now owns 78,323 shares of the Wireless communications provider's stock valued at $804,000 after purchasing an additional 14,724 shares during the period. Finally, First Affirmative Financial Network bought a new position in Telefônica Brasil during the third quarter valued at approximately $160,000. Institutional investors own 5.16% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VIV. Scotiabank increased their price objective on shares of Telefônica Brasil from $9.20 to $10.40 and gave the company a "sector perform" rating in a research report on Friday, September 20th. Barclays increased their price objective on shares of Telefônica Brasil from $11.00 to $11.50 and gave the company an "equal weight" rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of Telefônica Brasil from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 21st. Finally, Morgan Stanley upgraded shares of Telefônica Brasil from an "equal weight" rating to an "overweight" rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Telefônica Brasil currently has a consensus rating of "Moderate Buy" and an average target price of $10.97.

Telefônica Brasil Price Performance

Shares of NYSE VIV traded down $0.38 during midday trading on Tuesday, reaching $9.07. The stock had a trading volume of 1,730,140 shares, compared to its average volume of 816,487. The stock has a 50-day moving average of $9.70 and a 200-day moving average of $9.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.98 and a current ratio of 1.03. The company has a market capitalization of $15.09 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 0.92 and a beta of 0.80. Telefônica Brasil S.A. has a 12-month low of $8.02 and a 12-month high of $11.43.

Telefônica Brasil (NYSE:VIV - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The Wireless communications provider reported $0.14 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.14. The firm had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $2.51 billion. Telefônica Brasil had a net margin of 9.65% and a return on equity of 7.53%. During the same period in the prior year, the company posted $0.14 earnings per share. As a group, research analysts anticipate that Telefônica Brasil S.A. will post 0.61 EPS for the current fiscal year.

Telefônica Brasil Cuts Dividend

The business also recently announced a -- dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 27th were paid a dividend of $0.0379 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a yield of 3.2%. Telefônica Brasil's payout ratio is 42.86%.

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.