Legacy Wealth Asset Management LLC Sells 2,326 Shares of Telefônica Brasil S.A. (NYSE:VIV)

Legacy Wealth Asset Management LLC trimmed its position in shares of Telefônica Brasil S.A. (NYSE:VIV) by 3.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,279 shares of the Wireless communications provider’s stock after selling 2,326 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Telefônica Brasil were worth $577,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of VIV. Norden Group LLC acquired a new stake in shares of Telefônica Brasil during the 1st quarter worth approximately $292,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Telefônica Brasil by 2.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 184,212 shares of the Wireless communications provider’s stock valued at $1,855,000 after purchasing an additional 4,000 shares during the last quarter. Kathmere Capital Management LLC raised its holdings in shares of Telefônica Brasil by 15.1% during the 1st quarter. Kathmere Capital Management LLC now owns 27,727 shares of the Wireless communications provider’s stock worth $279,000 after buying an additional 3,639 shares in the last quarter. Janiczek Wealth Management LLC lifted its position in shares of Telefônica Brasil by 3.1% during the 1st quarter. Janiczek Wealth Management LLC now owns 75,756 shares of the Wireless communications provider’s stock worth $763,000 after buying an additional 2,292 shares during the last quarter. Finally, DGS Capital Management LLC boosted its stake in Telefônica Brasil by 4.7% in the first quarter. DGS Capital Management LLC now owns 77,857 shares of the Wireless communications provider’s stock valued at $784,000 after buying an additional 3,521 shares in the last quarter. 5.16% of the stock is owned by institutional investors.

Telefônica Brasil Stock Up 2.8 %

Shares of NYSE VIV opened at $8.31 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.01 and a quick ratio of 0.97. Telefônica Brasil S.A. has a 1 year low of $8.02 and a 1 year high of $11.43. The company has a 50 day simple moving average of $8.71 and a 200 day simple moving average of $9.81. The firm has a market cap of $13.82 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.69 and a beta of 0.79.

Telefônica Brasil (NYSE:VIV) last released its quarterly earnings results on Tuesday, May 7th. The Wireless communications provider reported $0.11 EPS for the quarter. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.73 billion. Telefônica Brasil had a return on equity of 7.39% and a net margin of 9.63%. On average, research analysts forecast that Telefônica Brasil S.A. will post 0.68 EPS for the current year.

Telefônica Brasil Cuts Dividend

The company also recently declared a — dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, January 1st were given a $0.0166 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a dividend yield of 4.6%. Telefônica Brasil’s dividend payout ratio (DPR) is currently 44.45%.

Analyst Ratings Changes

Separately, Barclays dropped their target price on shares of Telefônica Brasil from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Telefônica Brasil has a consensus rating of “Moderate Buy” and a consensus price target of $11.35.

Telefônica Brasil 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.