Federated Hermes Inc. Buys 191,842 Shares of Telefonica Brasil S.A. (NYSE:VIV)

Key Points

• Federated Hermes Inc. has increased its stake in Telefonica Brasil S.A. by 45.6%, purchasing an additional 191,842 shares to hold a total of 612,915 shares valued at $5,345,000.
• Analysts have upgraded Telefonica Brasil, with ratings shifting from "hold" to "buy," and price targets raised to a range of $10.30 to $12.50, indicating a positive outlook for the stock.
• Telefonica Brasil reported a quarterly earnings miss with $0.15 EPS, falling short of the $0.16 consensus estimate, and its revenue came in at $2.62 billion for the quarter.

Federated Hermes Inc. increased its stake in Telefonica Brasil S.A. (NYSE:VIV - Free Report) by 45.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 612,915 shares of the Wireless communications provider's stock after purchasing an additional 191,842 shares during the quarter. Federated Hermes Inc.'s holdings in Telefonica Brasil were worth $5,345,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. boosted its stake in shares of Telefonica Brasil by 39.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,783 shares of the Wireless communications provider's stock worth $33,000 after buying an additional 1,067 shares during the last quarter. Rhumbline Advisers lifted its holdings in Telefonica Brasil by 337.7% in the first quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider's stock valued at $37,000 after acquiring an additional 3,266 shares during the period. Parvin Asset Management LLC purchased a new position in Telefonica Brasil in the fourth quarter worth about $51,000. GeoWealth Management LLC grew its stake in shares of Telefonica Brasil by 1,429.4% during the 4th quarter. GeoWealth Management LLC now owns 8,534 shares of the Wireless communications provider's stock valued at $64,000 after purchasing an additional 7,976 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Telefonica Brasil by 984.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,251 shares of the Wireless communications provider's stock valued at $70,000 after purchasing an additional 8,398 shares during the last quarter. Institutional investors own 5.16% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Telefonica Brasil from a "hold" rating to a "buy" rating in a research note on Saturday. Barclays increased their price target on shares of Telefonica Brasil from $11.50 to $12.50 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Scotiabank boosted their price objective on shares of Telefonica Brasil from $8.80 to $12.50 and gave the company a "sector perform" rating in a research report on Thursday. Finally, The Goldman Sachs Group upped their price objective on Telefonica Brasil from $9.20 to $10.30 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Telefonica Brasil currently has an average rating of "Moderate Buy" and an average price target of $11.77.

Telefonica Brasil Stock Up 1.1%

Shares of VIV stock opened at $11.34 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.92. Telefonica Brasil S.A. has a one year low of $7.47 and a one year high of $11.96. The company's fifty day moving average price is $10.91 and its 200-day moving average price is $13.62. The company has a market capitalization of $18.74 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 0.75 and a beta of 0.71.

Telefonica Brasil (NYSE:VIV - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The Wireless communications provider reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.01). Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.26%. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $14.48 billion. Sell-side analysts expect that Telefonica Brasil S.A. will post 0.6 EPS for the current fiscal 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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