Summit Global Investments cut its holdings in Telefônica Brasil S.A. (NYSE:VIV - Free Report) by 74.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,403 shares of the Wireless communications provider's stock after selling 387,244 shares during the quarter. Summit Global Investments' holdings in Telefônica Brasil were worth $1,401,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the business. Bleakley Financial Group LLC boosted its stake in shares of Telefônica Brasil by 5.9% during the third 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 in the last quarter. Kathmere Capital Management LLC boosted 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 purchasing an additional 1,150 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Telefônica Brasil by 0.5% during the first quarter. Gabelli Funds LLC now owns 330,000 shares of the Wireless communications provider's stock valued at $3,323,000 after purchasing an additional 1,500 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Telefônica Brasil by 2.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 56,552 shares of the Wireless communications provider's stock valued at $464,000 after purchasing an additional 1,558 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in shares of Telefônica Brasil by 5.0% during the second quarter. V Square Quantitative Management LLC now owns 50,378 shares of the Wireless communications provider's stock valued at $415,000 after purchasing an additional 2,382 shares in the last quarter. 5.16% of the stock is owned by institutional investors and hedge funds.
Telefônica Brasil Stock Down 3.8 %
Shares of NYSE VIV traded down $0.36 during midday trading on Friday, hitting $9.01. 477,036 shares of the stock traded hands, compared to its average volume of 813,267. The business has a 50 day moving average price of $9.66 and a two-hundred day moving average price of $9.14. Telefônica Brasil S.A. has a one year low of $8.02 and a one year high of $11.43. The company has a market cap of $14.99 billion, a PE ratio of 14.30, a P/E/G ratio of 0.92 and a beta of 0.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 0.96.
Telefônica Brasil (NYSE:VIV - Get Free Report) last announced its quarterly 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. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. On average, equities analysts predict that Telefônica Brasil S.A. will post 0.61 EPS for the current year.
Telefônica Brasil Cuts Dividend
The firm also recently disclosed a -- dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 27th were given a $0.0379 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a yield of 3.2%. Telefônica Brasil's dividend payout ratio is currently 42.86%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on VIV shares. Scotiabank lifted their price objective on Telefônica Brasil from $9.20 to $10.40 and gave the stock a "sector perform" rating in a research note on Friday, September 20th. Barclays lifted their target price on Telefônica Brasil from $11.00 to $11.50 and gave the stock an "equal weight" rating in a report on Thursday, August 1st. Finally, StockNews.com upgraded Telefônica Brasil from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $10.97.
View Our Latest Research Report on VIV
Telefônica Brasil Company Profile
(
Free Report)
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.
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