Telefônica Brasil S.A. (NYSE:VIV) Holdings Decreased by Summit Global Investments

Summit Global Investments decreased its holdings in shares of Telefônica Brasil S.A. (NYSE:VIV) by 74.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,403 shares of the Wireless communications provider’s stock after selling 387,244 shares during the quarter. Summit Global Investments’ holdings in Telefônica Brasil were worth $1,401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bleakley Financial Group LLC grew its holdings in shares of Telefônica Brasil by 5.9% during the third quarter. Bleakley Financial Group LLC now owns 19,539 shares of the Wireless communications provider’s stock valued at $201,000 after buying an additional 1,080 shares in the last quarter. Kathmere Capital Management LLC boosted its position in Telefônica Brasil by 4.1% during 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 last quarter. Gabelli Funds LLC boosted its position in Telefônica Brasil by 0.5% during the first quarter. Gabelli Funds LLC now owns 330,000 shares of the Wireless communications provider’s stock valued at $3,323,000 after purchasing an additional 1,500 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Telefônica Brasil by 2.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 56,552 shares of the Wireless communications provider’s stock valued at $464,000 after purchasing an additional 1,558 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its position in Telefônica Brasil by 5.0% during the second quarter. V Square Quantitative Management LLC now owns 50,378 shares of the Wireless communications provider’s stock valued at $415,000 after purchasing an additional 2,382 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 NYSE:VIV opened at $9.01 on Friday. Telefônica Brasil S.A. has a fifty-two week low of $8.02 and a fifty-two week high of $11.43. The business has a 50-day moving average of $9.66 and a two-hundred day moving average of $9.14. The stock has a market capitalization of $14.99 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.92 and a beta of 0.81. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.98.

Telefônica Brasil (NYSE:VIV) last announced its quarterly earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. On average, equities research analysts predict that Telefônica Brasil S.A. will post 0.61 EPS for the current fiscal year.

Telefônica Brasil Cuts Dividend

The firm also recently disclosed a — dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 27th were paid a $0.0379 dividend. The ex-dividend date was Tuesday, August 27th. This represents a dividend yield of 3.2%. Telefônica Brasil’s payout ratio is presently 42.86%.

Analyst Ratings Changes

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

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.