Frank Rimerman Advisors LLC Invests $842,000 in Telefônica Brasil S.A. (NYSE:VIV)

Frank Rimerman Advisors LLC purchased a new stake in Telefônica Brasil S.A. (NYSE:VIV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 102,564 shares of the Wireless communications provider’s stock, valued at approximately $842,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in shares of Telefônica Brasil by 165.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,856,545 shares of the Wireless communications provider’s stock worth $20,311,000 after purchasing an additional 1,157,304 shares during the last quarter. Pinebridge Investments L.P. raised its holdings in Telefônica Brasil by 82.7% during the fourth quarter. Pinebridge Investments L.P. now owns 1,601,608 shares of the Wireless communications provider’s stock valued at $17,517,000 after buying an additional 725,072 shares in the last quarter. Banco BTG Pactual S.A. acquired a new stake in shares of Telefônica Brasil in the fourth quarter worth about $6,208,000. Summit Global Investments boosted its stake in shares of Telefônica Brasil by 82.4% during the 2nd quarter. Summit Global Investments now owns 523,647 shares of the Wireless communications provider’s stock worth $4,299,000 after acquiring an additional 236,594 shares in the last quarter. Finally, Dorsey Wright & Associates acquired a new position in shares of Telefônica Brasil during the 4th quarter valued at about $2,202,000. Institutional investors and hedge funds own 5.16% of the company’s stock.

Telefônica Brasil Stock Down 1.1 %

Shares of VIV opened at $9.89 on Tuesday. The company has a 50-day simple moving average of $9.29 and a 200-day simple moving average of $9.23. 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 firm has a market capitalization of $16.45 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.00 and a beta of 0.79. Telefônica Brasil S.A. has a 52 week low of $8.02 and a 52 week high of $11.43.

Telefônica Brasil (NYSE:VIV) last released its quarterly earnings data on Monday, July 29th. The Wireless communications provider reported $0.14 EPS for the quarter, hitting analysts’ consensus estimates of $0.14. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.14 EPS. On average, equities research analysts expect that Telefônica Brasil S.A. will post 0.61 earnings per share for the current year.

Telefônica Brasil Cuts Dividend

The business also recently announced a — dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 27th were issued a $0.0379 dividend. The ex-dividend date was Tuesday, August 27th. This represents a dividend yield of 3.2%. Telefônica Brasil’s payout ratio is presently 47.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays upped their target price on Telefônica Brasil from $11.00 to $11.50 and gave the stock 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 report on Tuesday, September 17th. Morgan Stanley upgraded shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating in a report on Thursday, July 11th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.98.

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.