Summit Global Investments Acquires 1,506 Shares of Telefônica Brasil S.A. (NYSE:VIV)

Summit Global Investments increased its holdings in Telefônica Brasil S.A. (NYSE:VIV) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 137,909 shares of the Wireless communications provider’s stock after purchasing an additional 1,506 shares during the quarter. Summit Global Investments’ holdings in Telefônica Brasil were worth $1,041,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. grew its stake in shares of Telefônica Brasil by 7.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 15,192,635 shares of the Wireless communications provider’s stock worth $114,704,000 after purchasing an additional 1,053,218 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Telefônica Brasil in the third quarter worth $5,967,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Telefônica Brasil in the third quarter worth $5,135,000. State Street Corp grew its stake in shares of Telefônica Brasil by 27.7% in the third quarter. State Street Corp now owns 326,954 shares of the Wireless communications provider’s stock worth $3,413,000 after purchasing an additional 70,900 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in Telefônica Brasil by 41.1% during the third quarter. Stifel Financial Corp now owns 264,413 shares of the Wireless communications provider’s stock valued at $2,716,000 after acquiring an additional 77,005 shares during the last quarter. Institutional investors own 5.16% of the company’s stock.

Analysts Set New Price Targets

VIV has been the topic of a number of research analyst reports. StockNews.com raised shares of Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 7th. New Street Research cut shares of Telefônica Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Barclays raised shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $11.80 to $11.50 in a research report on Monday, March 3rd. The Goldman Sachs Group cut their price target on shares of Telefônica Brasil from $10.60 to $9.20 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Scotiabank cut their price target on shares of Telefônica Brasil from $10.40 to $9.20 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Telefônica Brasil presently has an average rating of “Moderate Buy” and a consensus price target of $9.97.

Telefônica Brasil Price Performance

Shares of NYSE VIV opened at $8.72 on Friday. The firm’s 50-day moving average price is $8.67 and its 200-day moving average price is $8.88. Telefônica Brasil S.A. has a 1-year low of $7.47 and a 1-year high of $10.41. The firm has a market capitalization of $14.40 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.84 and a beta of 0.76. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19.

Telefônica Brasil (NYSE:VIV) last announced its quarterly earnings data on Tuesday, February 25th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.39 billion. Equities research analysts anticipate that Telefônica Brasil S.A. will post 0.6 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.