Abacus Wealth Partners LLC acquired a new position in Telefonica Brasil S.A. (NYSE:VIV – Free Report) in the fourth quarter, Holdings Channel.com reports. The firm acquired 88,602 shares of the Wireless communications provider’s stock, valued at approximately $1,051,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in shares of Telefonica Brasil by 337.7% in the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 3,266 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Telefonica Brasil in the 1st quarter valued at about $52,000. EverSource Wealth Advisors LLC lifted its stake in shares of Telefonica Brasil by 214.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider’s stock valued at $54,000 after acquiring an additional 3,248 shares during the last quarter. Westfuller Advisors LLC bought a new stake in shares of Telefonica Brasil in the 3rd quarter valued at about $59,000. Finally, SG Americas Securities LLC bought a new stake in shares of Telefonica Brasil in the 4th quarter valued at about $110,000. 5.16% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
VIV has been the subject of a number of recent research reports. Scotiabank boosted their target price on Telefonica Brasil from $15.30 to $15.70 and gave the company a “sector perform” rating in a research note on Tuesday, May 12th. Zacks Research lowered Telefonica Brasil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. New Street Research raised Telefonica Brasil from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 7th. Weiss Ratings lowered Telefonica Brasil from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Finally, UBS Group lowered Telefonica Brasil from a “buy” rating to a “sell” rating in a research note on Wednesday, March 11th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Telefonica Brasil has a consensus rating of “Hold” and an average target price of $14.16.
Telefonica Brasil Trading Down 1.9%
VIV opened at $14.02 on Friday. The business has a 50 day simple moving average of $15.78 and a two-hundred day simple moving average of $14.21. The firm has a market capitalization of $22.80 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 0.81 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.10 and a quick ratio of 0.94. Telefonica Brasil S.A. has a one year low of $9.41 and a one year high of $17.25.
Telefonica Brasil (NYSE:VIV – Get Free Report) last released its quarterly earnings results on Monday, May 11th. The Wireless communications provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.98 billion. Telefonica Brasil had a net margin of 10.49% and a return on equity of 9.32%. Analysts predict that Telefonica Brasil S.A. will post 0.88 EPS for the current year.
Telefonica Brasil Announces Dividend
The firm also recently declared a dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Friday, May 22nd will be given a dividend of $0.4562 per share. The ex-dividend date of this dividend is Friday, May 22nd. Telefonica Brasil’s dividend payout ratio is presently 62.16%.
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.
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