Moors & Cabot Inc. Sells 2,775 Shares of Telefônica Brasil S.A. (NYSE:VIV)

Moors & Cabot Inc. decreased its holdings in shares of Telefônica Brasil S.A. (NYSE:VIV) by 15.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,500 shares of the Wireless communications provider’s stock after selling 2,775 shares during the period. Moors & Cabot Inc.’s holdings in Telefônica Brasil were worth $117,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stifel Financial Corp boosted its position in shares of Telefônica Brasil by 41.1% during the 3rd quarter. Stifel Financial Corp now owns 264,413 shares of the Wireless communications provider’s stock valued at $2,716,000 after purchasing an additional 77,005 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Telefônica Brasil by 49.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,171,789 shares of the Wireless communications provider’s stock worth $12,034,000 after acquiring an additional 385,207 shares in the last quarter. Truist Financial Corp bought a new position in Telefônica Brasil in the fourth quarter worth approximately $242,000. Robeco Institutional Asset Management B.V. boosted its holdings in 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 acquiring an additional 1,053,218 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Telefônica Brasil in the third quarter worth approximately $5,135,000. Institutional investors own 5.16% of the company’s stock.

Telefônica Brasil Stock Performance

Shares of Telefônica Brasil stock opened at $8.85 on Monday. The company has a market cap of $14.62 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.84 and a beta of 0.76. Telefônica Brasil S.A. has a 52 week low of $7.47 and a 52 week high of $10.63. The business has a 50 day moving average price of $8.56 and a 200-day moving average price of $8.89. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

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

Analysts Set New Price Targets

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

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.