Truist Financial Corp Takes Position in Telefônica Brasil S.A. (NYSE:VIV)

Truist Financial Corp acquired a new position in shares of Telefônica Brasil S.A. (NYSE:VIV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 32,069 shares of the Wireless communications provider's stock, valued at approximately $242,000.

A number of other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Telefônica Brasil by 67.8% during the fourth quarter. GAMMA Investing LLC now owns 3,818 shares of the Wireless communications provider's stock valued at $29,000 after buying an additional 1,543 shares during the period. Allworth Financial LP grew its stake in Telefônica Brasil by 86.4% during the 4th quarter. Allworth Financial LP now owns 4,169 shares of the Wireless communications provider's stock valued at $31,000 after acquiring an additional 1,933 shares in the last quarter. R Squared Ltd acquired a new position in shares of Telefônica Brasil in the 4th quarter valued at about $37,000. Blue Trust Inc. lifted its position in shares of Telefônica Brasil by 46.4% in the fourth quarter. Blue Trust Inc. now owns 8,823 shares of the Wireless communications provider's stock worth $67,000 after purchasing an additional 2,797 shares in the last quarter. Finally, DAVENPORT & Co LLC purchased a new stake in shares of Telefônica Brasil in the fourth quarter worth approximately $78,000. 5.16% of the stock is owned by hedge funds and other institutional investors.

Telefônica Brasil Stock Down 0.6 %

Telefônica Brasil stock traded down $0.06 during mid-day trading on Monday, hitting $8.48. 834,432 shares of the company's stock were exchanged, compared to its average volume of 866,970. Telefônica Brasil S.A. has a 1-year low of $7.47 and a 1-year high of $10.63. The stock has a 50 day moving average of $8.46 and a two-hundred day moving average of $8.93. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The stock has a market cap of $14.01 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.84 and a beta of 0.76.

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Telefônica Brasil (NYSE:VIV - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The Wireless communications provider reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.39 billion. As a group, analysts anticipate that Telefônica Brasil S.A. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VIV shares. Barclays upgraded shares of Telefônica Brasil from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $11.80 to $11.50 in a research report on Monday, March 3rd. Scotiabank cut their price objective on Telefônica Brasil from $10.40 to $9.20 and set a "sector perform" rating for the company in a report on Thursday, February 27th. New Street Research cut Telefônica Brasil from a "buy" rating to a "neutral" rating in a research report on Monday, December 9th. StockNews.com raised Telefônica Brasil from a "buy" rating to a "strong-buy" rating in a research note on Friday. Finally, The Goldman Sachs Group lowered their price target on Telefônica Brasil from $10.60 to $9.20 and set a "buy" rating for the company in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $9.97.

About Telefônica Brasil

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.