Telefônica Brasil S.A. (NYSE:VIV) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC grew its position in shares of Telefônica Brasil S.A. (NYSE:VIV) by 86.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,061 shares of the Wireless communications provider’s stock after purchasing an additional 11,589 shares during the period. Ballentine Partners LLC’s holdings in Telefônica Brasil were worth $252,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. UBS Group AG raised its holdings in Telefônica Brasil by 0.9% in the third quarter. UBS Group AG now owns 348,528 shares of the Wireless communications provider’s stock valued at $2,980,000 after buying an additional 3,178 shares during the period. Envestnet Asset Management Inc. raised its holdings in Telefônica Brasil by 23.2% in the third quarter. Envestnet Asset Management Inc. now owns 406,875 shares of the Wireless communications provider’s stock valued at $3,479,000 after buying an additional 76,621 shares during the period. Hsbc Holdings PLC raised its holdings in Telefônica Brasil by 3.2% in the third quarter. Hsbc Holdings PLC now owns 84,929 shares of the Wireless communications provider’s stock valued at $726,000 after buying an additional 2,595 shares during the period. Acadian Asset Management LLC purchased a new position in Telefônica Brasil in the third quarter valued at approximately $115,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Telefônica Brasil by 11.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,540 shares of the Wireless communications provider’s stock valued at $1,424,000 after buying an additional 17,449 shares during the period. 5.16% of the stock is owned by institutional investors and hedge funds.

Telefônica Brasil Trading Up 0.5 %

VIV opened at $8.36 on Thursday. The firm has a market capitalization of $13.90 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.69 and a beta of 0.81. The firm’s 50 day moving average is $8.86 and its 200-day moving average is $9.92. Telefônica Brasil S.A. has a 52-week low of $8.10 and a 52-week high of $11.43. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 0.21.

Telefônica Brasil (NYSE:VIV) last released its quarterly earnings results on Tuesday, May 7th. The Wireless communications provider reported $0.11 earnings per share for the quarter. Telefônica Brasil had a net margin of 9.63% and a return on equity of 7.39%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.73 billion. Analysts expect that Telefônica Brasil S.A. will post 0.68 EPS for the current fiscal year.

Telefônica Brasil Cuts Dividend

The business also recently declared a — dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, January 1st will be given a dividend of $0.0166 per share. This represents a dividend yield of 4.6%. The ex-dividend date is Thursday, June 27th. Telefônica Brasil’s payout ratio is currently 41.27%.

Analyst Ratings Changes

Separately, Barclays dropped their price objective on shares of Telefônica Brasil from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.35.

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.