State Street Corp Boosts Stake in Telefônica Brasil S.A. (NYSE:VIV)

State Street Corp lifted its holdings in Telefônica Brasil S.A. (NYSE:VIV) by 27.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 326,954 shares of the Wireless communications provider’s stock after purchasing an additional 70,900 shares during the quarter. State Street Corp’s holdings in Telefônica Brasil were worth $3,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of VIV. Blue Trust Inc. increased its position in Telefônica Brasil by 87.5% during the third quarter. Blue Trust Inc. now owns 6,026 shares of the Wireless communications provider’s stock valued at $62,000 after acquiring an additional 2,812 shares during the last quarter. Aprio Wealth Management LLC purchased a new stake in Telefônica Brasil during the third quarter valued at $134,000. QRG Capital Management Inc. grew its holdings in Telefônica Brasil by 30.2% during the third quarter. QRG Capital Management Inc. now owns 13,094 shares of the Wireless communications provider’s stock valued at $134,000 after purchasing an additional 3,039 shares during the period. First Affirmative Financial Network bought a new stake in Telefônica Brasil during the third quarter valued at about $160,000. Finally, Squarepoint Ops LLC bought a new stake in Telefônica Brasil during the second quarter valued at about $165,000. Hedge funds and other institutional investors own 5.16% of the company’s stock.

Telefônica Brasil Trading Down 1.7 %

Shares of NYSE VIV opened at $7.50 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 0.96. The business’s 50 day moving average price is $8.65 and its 200-day moving average price is $9.01. Telefônica Brasil S.A. has a fifty-two week low of $7.47 and a fifty-two week high of $11.43. The company has a market cap of $12.48 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.78 and a beta of 0.78.

Telefônica Brasil (NYSE:VIV) last issued its quarterly earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.03. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the business posted $0.18 earnings per share. On average, sell-side analysts expect that Telefônica Brasil S.A. will post 0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

VIV has been the subject of a number of recent analyst reports. Barclays upped their price objective on Telefônica Brasil from $11.50 to $11.80 and gave the stock an “equal weight” rating in a research note on Monday, November 25th. New Street Research downgraded Telefônica Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Scotiabank upped their price objective on Telefônica Brasil from $9.20 to $10.40 and gave the company a “sector perform” rating in a research report on Friday, September 20th. The Goldman Sachs Group decreased their price objective on Telefônica Brasil from $10.60 to $9.20 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, StockNews.com downgraded Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.60.

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.