Oppenheimer Asset Management Inc. Raises Position in Telefônica Brasil S.A. (NYSE:VIV)

Oppenheimer Asset Management Inc. grew its stake in shares of Telefônica Brasil S.A. (NYSE:VIV) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,708 shares of the Wireless communications provider’s stock after acquiring an additional 1,236 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Telefônica Brasil were worth $243,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Bleakley Financial Group LLC boosted its holdings in Telefônica Brasil by 5.9% in the third quarter. Bleakley Financial Group LLC now owns 19,539 shares of the Wireless communications provider’s stock valued at $201,000 after acquiring an additional 1,080 shares during the last quarter. Kathmere Capital Management LLC raised its position in Telefônica Brasil by 4.1% in the second quarter. Kathmere Capital Management LLC now owns 28,877 shares of the Wireless communications provider’s stock valued at $237,000 after purchasing an additional 1,150 shares during the period. Gabelli Funds LLC boosted its position in shares of Telefônica Brasil by 0.5% in the first quarter. Gabelli Funds LLC now owns 330,000 shares of the Wireless communications provider’s stock worth $3,323,000 after buying an additional 1,500 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Telefônica Brasil by 2.8% during 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. Finally, V Square Quantitative Management LLC lifted its position in Telefônica Brasil by 5.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 50,378 shares of the Wireless communications provider’s stock worth $415,000 after acquiring an additional 2,382 shares in the last quarter. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 14th. Barclays raised their target price on Telefônica Brasil from $11.00 to $11.50 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Scotiabank boosted their price target on Telefônica Brasil from $9.20 to $10.40 and gave the stock a “sector perform” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.97.

Telefônica Brasil Price Performance

Shares of VIV stock opened at $8.99 on Thursday. The firm has a market cap of $14.96 billion, a P/E ratio of 14.27, a P/E/G ratio of 0.89 and a beta of 0.81. The firm has a fifty day moving average of $9.56 and a two-hundred day moving average of $9.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.91. Telefônica Brasil S.A. has a 1-year low of $8.02 and a 1-year high of $11.43.

Telefônica Brasil (NYSE:VIV) last announced its quarterly earnings data on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the business posted $0.18 earnings per share. As a group, research analysts anticipate that Telefônica Brasil S.A. will post 0.61 earnings per share for the current fiscal year.

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.