Envestnet Asset Management Inc. Acquires 63,241 Shares of Telefonica Brasil S.A. (NYSE:VIV)

Envestnet Asset Management Inc. lifted its holdings in shares of Telefonica Brasil S.A. (NYSE:VIV - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 449,213 shares of the Wireless communications provider's stock after acquiring an additional 63,241 shares during the period. Envestnet Asset Management Inc.'s holdings in Telefonica Brasil were worth $3,917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in Telefonica Brasil in the 4th quarter worth about $81,000. Raymond James Financial Inc. purchased a new position in Telefonica Brasil in the fourth quarter valued at about $403,000. Virtu Financial LLC purchased a new position in Telefonica Brasil in the fourth quarter valued at about $108,000. American Century Companies Inc. boosted its stake in Telefonica Brasil by 24.4% in the fourth quarter. American Century Companies Inc. now owns 121,379 shares of the Wireless communications provider's stock valued at $916,000 after acquiring an additional 23,774 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Telefonica Brasil by 67.6% in the fourth quarter. Sei Investments Co. now owns 912,148 shares of the Wireless communications provider's stock valued at $6,887,000 after acquiring an additional 367,975 shares during the last quarter. 5.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on VIV shares. Wall Street Zen cut shares of Telefonica Brasil from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. The Goldman Sachs Group boosted their target price on shares of Telefonica Brasil from $9.20 to $10.30 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Barclays boosted their target price on shares of Telefonica Brasil from $11.50 to $12.50 and gave the company an "overweight" rating in a research note on Monday, July 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.73.

Telefonica Brasil Stock Performance

Shares of VIV stock opened at $11.04 on Friday. The stock has a market capitalization of $18.25 billion, a P/E ratio of 18.10, a PEG ratio of 0.74 and a beta of 0.75. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The firm's 50 day moving average is $10.77 and its 200 day moving average is $13.79. Telefonica Brasil S.A. has a 12 month low of $7.47 and a 12 month high of $11.96.

Telefonica Brasil (NYSE:VIV - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The Wireless communications provider reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $14.41 billion. Telefonica Brasil had a net margin of 10.07% and a return on equity of 8.09%. On average, sell-side analysts anticipate that Telefonica Brasil S.A. will post 0.6 earnings per share for the current year.

Telefonica Brasil Company 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.

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