Telefonica Brasil (NYSE:VIV) Reaches New 1-Year High – Here’s What Happened

Telefonica Brasil S.A. (NYSE:VIV) reached a new 52-week high on Thursday . The stock traded as high as $16.95 and last traded at $16.76, with a volume of 118763 shares. The stock had previously closed at $16.57.

Analyst Upgrades and Downgrades

VIV has been the subject of several research analyst reports. UBS Group cut Telefonica Brasil from a “buy” rating to a “sell” rating in a research report on Wednesday, March 11th. Barclays cut Telefonica Brasil from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $14.50 to $16.00 in a research report on Thursday, March 12th. Bank of America initiated coverage on Telefonica Brasil in a research report on Thursday, December 11th. They set an “underperform” rating and a $14.00 price objective for the company. Zacks Research raised Telefonica Brasil from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Finally, New Street Research raised Telefonica Brasil from a “neutral” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Telefonica Brasil has a consensus rating of “Hold” and a consensus target price of $13.98.

Telefonica Brasil Stock Performance

The firm has a fifty day simple moving average of $15.66 and a 200 day simple moving average of $13.59. The company has a current ratio of 1.00, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The stock has a market cap of $27.52 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 0.71 and a beta of 0.70.

Telefonica Brasil (NYSE:VIV) last posted its quarterly earnings results on Thursday, February 12th. The Wireless communications provider reported $0.21 EPS for the quarter. The firm had revenue of $2.83 billion during the quarter. Telefonica Brasil had a return on equity of 9.15% and a net margin of 10.42%. As a group, sell-side analysts expect that Telefonica Brasil S.A. will post 0.6 earnings per share for the current year.

Telefonica Brasil Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Friday, May 22nd will be issued a $0.4562 dividend. The ex-dividend date of this dividend is Friday, May 22nd. Telefonica Brasil’s dividend payout ratio is 34.29%.

Hedge Funds Weigh In On Telefonica Brasil

Several large investors have recently added to or reduced their stakes in VIV. Robeco Institutional Asset Management B.V. raised its holdings in Telefonica Brasil by 11.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 17,000,115 shares of the Wireless communications provider’s stock valued at $216,751,000 after acquiring an additional 1,735,958 shares in the last quarter. Invesco Ltd. grew its stake in shares of Telefonica Brasil by 138.8% in the 3rd quarter. Invesco Ltd. now owns 2,856,618 shares of the Wireless communications provider’s stock valued at $36,422,000 after purchasing an additional 1,660,475 shares during the period. Jane Street Group LLC bought a new stake in shares of Telefonica Brasil in the 2nd quarter valued at approximately $4,192,000. Kapitalo Investimentos Ltda bought a new stake in shares of Telefonica Brasil in the 4th quarter valued at approximately $4,211,000. Finally, Carrera Capital Advisors grew its stake in shares of Telefonica Brasil by 2,420.5% in the 3rd quarter. Carrera Capital Advisors now owns 344,055 shares of the Wireless communications provider’s stock valued at $4,387,000 after purchasing an additional 330,405 shares during the period. Institutional investors and hedge funds own 5.16% of the company’s stock.

Telefonica Brasil Company Profile

Telefônica Brasil SA, commonly marketed under the Vivo brand, is one of Brazil’s largest telecommunications providers, offering a broad range of consumer and enterprise communications services. The company’s core activities include mobile voice and data services, fixed-line telephony, broadband internet (including fiber-to-the-home), and pay-TV solutions. It also provides ICT and managed services for business customers, such as cloud, data center, connectivity, Internet of Things (IoT) and security solutions.

Vivo operates a nationwide network across Brazil and serves both individual consumers and corporate clients.