426,868 Shares in Telefonica Brasil S.A. $VIV Bought by Ramirez Asset Management Inc.

Key Points

• Ramirez Asset Management Inc. purchased 426,868 shares of Telefonica Brasil S.A. for approximately $4.87 million, marking a new position in the company.
• Several other institutional investors, including Envestnet Asset Management Inc. and Federated Hermes Inc., have recently increased their holdings in Telefonica Brasil, indicating growing interest in the company.
• Analysts have varied opinions on Telefonica Brasil, with Barclays raising their target price to $13.00 and Goldman Sachs increasing theirs to $12.60, while others like JPMorgan Chase rated it as “underweight.”

Ramirez Asset Management Inc. bought a new position in shares of Telefonica Brasil S.A. (NYSE:VIV - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 426,868 shares of the Wireless communications provider's stock, valued at approximately $4,866,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of Telefonica Brasil by 16.4% during the first quarter. Envestnet Asset Management Inc. now owns 449,213 shares of the Wireless communications provider's stock worth $3,917,000 after acquiring an additional 63,241 shares during the last quarter. Modern Wealth Management LLC bought a new position in shares of Telefonica Brasil during the first quarter worth $423,000. Federated Hermes Inc. boosted its position in shares of Telefonica Brasil by 45.6% during the first quarter. Federated Hermes Inc. now owns 612,915 shares of the Wireless communications provider's stock worth $5,345,000 after acquiring an additional 191,842 shares during the last quarter. Invesco Ltd. boosted its position in shares of Telefonica Brasil by 36.4% during the first quarter. Invesco Ltd. now owns 1,445,527 shares of the Wireless communications provider's stock worth $12,605,000 after acquiring an additional 385,848 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Telefonica Brasil by 23.7% during the first quarter. American Century Companies Inc. now owns 150,128 shares of the Wireless communications provider's stock worth $1,309,000 after acquiring an additional 28,749 shares during the last quarter. Institutional investors own 5.16% of the company's stock.

Wall Street Analysts Forecast Growth

VIV has been the subject of a number of research reports. Barclays restated an "overweight" rating and set a $13.00 target price (up previously from $12.50) on shares of Telefonica Brasil in a research report on Thursday, August 7th. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Telefonica Brasil in a research report on Friday, August 8th. Citigroup assumed coverage on shares of Telefonica Brasil in a research report on Wednesday, September 10th. They set a "neutral" rating for the company. The Goldman Sachs Group increased their price objective on shares of Telefonica Brasil from $11.40 to $12.60 and gave the company a "buy" rating in a research report on Tuesday, August 19th. Finally, Wall Street Zen upgraded shares of Telefonica Brasil from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $12.53.

Telefonica Brasil Trading Down 0.8%

Shares of VIV opened at $12.00 on Friday. Telefonica Brasil S.A. has a twelve month low of $7.47 and a twelve month high of $12.92. The company has a market cap of $19.52 billion, a P/E ratio of 19.35, a P/E/G ratio of 0.84 and a beta of 0.77. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. The company's fifty day simple moving average is $12.36 and its 200-day simple moving average is $11.95.

Telefonica Brasil (NYSE:VIV - Get Free Report) last announced its earnings results on Monday, July 28th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.32%. The firm had revenue of $2.62 billion during the quarter, compared to analysts' expectations of $14.48 billion. As a group, analysts expect that Telefonica Brasil S.A. will post 0.6 EPS for the current year.

About Telefonica 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.

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