Gabelli Funds LLC Reduces Holdings in Telefônica Brasil S.A. (NYSE:VIV)

Gabelli Funds LLC lowered its position in shares of Telefônica Brasil S.A. (NYSE:VIV) by 1.7% in the second quarter, Holdings Channel reports. The institutional investor owned 324,500 shares of the Wireless communications provider’s stock after selling 5,500 shares during the quarter. Gabelli Funds LLC’s holdings in Telefônica Brasil were worth $2,664,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC acquired a new stake in Telefônica Brasil during the second quarter worth $842,000. Sei Investments Co. grew its holdings in shares of Telefônica Brasil by 12.9% during the 2nd quarter. Sei Investments Co. now owns 710,107 shares of the Wireless communications provider’s stock worth $5,830,000 after purchasing an additional 81,229 shares during the period. MQS Management LLC purchased a new position in shares of Telefônica Brasil during the 2nd quarter worth $374,000. Hsbc Holdings PLC increased its position in shares of Telefônica Brasil by 23.8% during the 2nd quarter. Hsbc Holdings PLC now owns 66,466 shares of the Wireless communications provider’s stock worth $545,000 after purchasing an additional 12,798 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Telefônica Brasil by 2.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 56,552 shares of the Wireless communications provider’s stock valued at $464,000 after buying an additional 1,558 shares during the period. Hedge funds and other institutional investors own 5.16% of the company’s stock.

Telefônica Brasil Trading Down 0.3 %

Shares of VIV stock opened at $10.10 on Thursday. 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 50 day moving average price of $9.32 and a 200 day moving average price of $9.22. The stock has a market capitalization of $16.80 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 0.98 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.98 and a current ratio of 1.03.

Telefônica Brasil (NYSE:VIV) last posted its quarterly earnings results on Monday, July 29th. The Wireless communications provider reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate 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 firm posted $0.14 earnings per share. Equities research analysts predict that Telefônica Brasil S.A. will post 0.61 EPS for the current fiscal year.

Telefônica Brasil Cuts Dividend

The business also recently declared a — dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 27th were given a $0.0379 dividend. This represents a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, August 27th. Telefônica Brasil’s dividend payout ratio is currently 49.21%.

Analyst Ratings Changes

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

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.