Driehaus Capital Management LLC Has $22.95 Million Holdings in Telefônica Brasil S.A. (NYSE:VIV)

Driehaus Capital Management LLC cut its stake in shares of Telefônica Brasil S.A. (NYSE:VIV) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,794,756 shares of the Wireless communications provider’s stock after selling 172,680 shares during the period. Driehaus Capital Management LLC owned 0.17% of Telefônica Brasil worth $22,945,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its holdings in shares of Telefônica Brasil by 20.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 399,318 shares of the Wireless communications provider’s stock worth $4,021,000 after purchasing an additional 67,414 shares during the period. Pinebridge Investments L.P. increased its holdings in shares of 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 worth $17,517,000 after purchasing an additional 725,072 shares during the period. Vanguard Group Inc. increased its holdings in shares of Telefônica Brasil by 6.3% during the first quarter. Vanguard Group Inc. now owns 1,222,562 shares of the Wireless communications provider’s stock worth $12,311,000 after purchasing an additional 72,388 shares during the period. Acadian Asset Management LLC bought a new position in shares of Telefônica Brasil during the first quarter worth approximately $650,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Telefônica Brasil by 165.5% during the fourth 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 period. 5.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on VIV. Scotiabank raised their target price on shares of Telefônica Brasil from $9.20 to $10.40 and gave the stock a “sector perform” rating in a report on Friday, September 20th. StockNews.com raised shares of Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Barclays lifted their price objective on shares of Telefônica Brasil from $11.00 to $11.50 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley raised shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating in a research note on Thursday, July 11th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.98.

Telefônica Brasil Stock Performance

Shares of Telefônica Brasil stock opened at $10.22 on Friday. Telefônica Brasil S.A. has a fifty-two week low of $8.02 and a fifty-two week high of $11.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.03 and a quick ratio of 0.98. The firm has a market capitalization of $17.00 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.00 and a beta of 0.79. The company’s 50 day moving average price is $9.39 and its two-hundred day moving average price is $9.23.

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, hitting analysts’ consensus estimates of $0.14. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates 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 previous year, the business earned $0.14 earnings per share. On average, equities analysts forecast that Telefônica Brasil S.A. will post 0.61 earnings per share for the current fiscal year.

Telefônica Brasil Cuts Dividend

The company also recently announced a — dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 27th were issued a $0.0379 dividend. The ex-dividend date was Tuesday, August 27th. This represents a yield of 3.2%. Telefônica Brasil’s payout ratio is 44.44%.

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.