Telefônica Brasil S.A. (NYSE:VIV) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its stake in shares of Telefônica Brasil S.A. (NYSE:VIV) by 40.6% during the third quarter, Holdings Channel reports. The fund owned 19,000 shares of the Wireless communications provider’s stock after selling 13,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Telefônica Brasil were worth $195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VIV. Vanguard Group Inc. boosted its stake in shares of Telefônica Brasil by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 1,222,562 shares of the Wireless communications provider’s stock worth $12,311,000 after purchasing an additional 72,388 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Telefônica Brasil during the first quarter worth approximately $123,000. Cetera Advisors LLC purchased a new stake in Telefônica Brasil in the 1st quarter worth approximately $236,000. Arkfeld Wealth Strategies L.L.C. acquired a new position in Telefônica Brasil in the 2nd quarter valued at $85,000. Finally, Simplicity Wealth LLC boosted its holdings in shares of Telefônica Brasil by 22.2% during the second quarter. Simplicity Wealth LLC now owns 18,459 shares of the Wireless communications provider’s stock worth $152,000 after purchasing an additional 3,358 shares during the last quarter. Hedge funds and other institutional investors own 5.16% of the company’s stock.

Telefônica Brasil Price Performance

Shares of Telefônica Brasil stock opened at $8.21 on Monday. The business’s fifty day moving average price is $9.38 and its 200 day moving average price is $9.09. Telefônica Brasil S.A. has a twelve month low of $8.01 and a twelve month high of $11.43. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $13.66 billion, a P/E ratio of 13.03, a PEG ratio of 0.79 and a beta of 0.81.

Telefônica Brasil (NYSE:VIV) last released its quarterly earnings data on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.03. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. During the same period in the previous year, the company posted $0.18 EPS. As a group, research analysts anticipate that Telefônica Brasil S.A. will post 0.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on VIV shares. Barclays upped their target price on Telefônica Brasil from $11.50 to $11.80 and gave the company an “equal weight” rating in a research note on Monday, November 25th. StockNews.com lowered shares of Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Finally, Scotiabank boosted their target price on shares of Telefônica Brasil from $9.20 to $10.40 and gave the company a “sector perform” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.07.

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.