Oppenheimer Asset Management Inc. Purchases 6,666 Shares of Telefônica Brasil S.A. (NYSE:VIV)

Oppenheimer Asset Management Inc. grew its stake in shares of Telefônica Brasil S.A. (NYSE:VIV) by 42.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 22,472 shares of the Wireless communications provider’s stock after acquiring an additional 6,666 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Telefônica Brasil were worth $184,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Telefônica Brasil by 2,821.8% during the 2nd quarter. Blue Trust Inc. now owns 3,214 shares of the Wireless communications provider’s stock valued at $26,000 after acquiring an additional 3,104 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Telefônica Brasil during the 2nd quarter worth $83,000. Arkfeld Wealth Strategies L.L.C. acquired a new position in shares of Telefônica Brasil during the 2nd quarter worth $85,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Telefônica Brasil during the 1st quarter worth $123,000. Finally, Personal CFO Solutions LLC acquired a new position in shares of Telefônica Brasil during the 4th quarter worth $136,000. 5.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VIV has been the subject of a number of research analyst reports. Morgan Stanley raised Telefônica Brasil from an “equal weight” rating to an “overweight” rating in a report on Thursday, July 11th. Barclays raised their price objective on shares of Telefônica Brasil from $11.00 to $11.50 and gave the company an “equal weight” rating in a report on Thursday, August 1st. StockNews.com cut shares of Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 17th. Finally, Scotiabank lifted their target price on Telefônica Brasil from $9.20 to $10.40 and gave the stock a “sector perform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.98.

Telefônica Brasil Stock Performance

Shares of VIV opened at $10.00 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $16.64 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.00 and a beta of 0.79. The firm’s fifty day simple moving average is $9.28 and its two-hundred day simple moving average is $9.23. Telefônica Brasil S.A. has a 12 month low of $8.02 and a 12 month high of $11.43.

Telefônica Brasil (NYSE:VIV) last issued its quarterly earnings results on Monday, July 29th. The Wireless communications provider reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. The business had revenue of $2.62 billion for 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 quarter in the prior year, the firm posted $0.14 earnings per share. As a group, analysts predict that Telefônica Brasil S.A. will post 0.61 EPS for the current year.

Telefônica Brasil Cuts Dividend

The company also recently declared a — dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 27th were given 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 dividend payout ratio (DPR) is currently 47.62%.

Telefônica Brasil Company 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.