Telefônica Brasil S.A. (NYSE:VIV) Holdings Lowered by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in Telefônica Brasil S.A. (NYSE:VIV) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,816 shares of the Wireless communications provider’s stock after selling 1,892 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Telefônica Brasil were worth $165,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its position in Telefônica Brasil by 7.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 15,192,635 shares of the Wireless communications provider’s stock worth $114,704,000 after buying an additional 1,053,218 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Telefônica Brasil in the 3rd quarter valued at $5,967,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Telefônica Brasil during the third quarter valued at approximately $5,135,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Telefônica Brasil by 49.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,171,789 shares of the Wireless communications provider’s stock worth $12,034,000 after acquiring an additional 385,207 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Telefônica Brasil in the third quarter valued at about $1,619,000. 5.16% of the stock is currently owned by institutional investors and hedge funds.

Telefônica Brasil Price Performance

Shares of VIV opened at $8.53 on Friday. The business has a 50-day moving average of $8.46 and a 200-day moving average of $8.94. Telefônica Brasil S.A. has a 1 year low of $7.47 and a 1 year high of $10.63. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 0.84 and a beta of 0.76. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.91.

Telefônica Brasil (NYSE:VIV) last issued its quarterly earnings results on Tuesday, February 25th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.39 billion. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. As a group, equities research analysts anticipate that Telefônica Brasil S.A. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on VIV shares. StockNews.com upgraded Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Friday. Barclays upgraded Telefônica Brasil from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $11.80 to $11.50 in a report on Monday, March 3rd. The Goldman Sachs Group decreased their price objective on Telefônica Brasil from $10.60 to $9.20 and set a “buy” rating for the company in a research report on Thursday, December 19th. New Street Research cut Telefônica Brasil from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. Finally, Scotiabank reduced their price objective on shares of Telefônica Brasil from $10.40 to $9.20 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Two 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 data from MarketBeat, Telefônica Brasil presently has a consensus rating of “Moderate Buy” and an average price target of $9.97.

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.