Modern Wealth Management LLC Invests $423,000 in Telefonica Brasil S.A. $VIV

Key Points

• Modern Wealth Management LLC has made a new investment of approximately $423,000 in Telefonica Brasil S.A., acquiring 48,524 shares in the first quarter.
• Telefonica Brasil recently reported earnings per share of $0.15, falling short of analysts' expectations, and its revenue for the quarter was reported at $2.62 billion.
• Analyst ratings for Telefonica Brasil show a mix of opinions, with two buy ratings, four holds, and one sell, reflecting a general consensus of "Hold" with a price target of $12.70.

Modern Wealth Management LLC acquired a new position in shares of Telefonica Brasil S.A. (NYSE:VIV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 48,524 shares of the Wireless communications provider's stock, valued at approximately $423,000.

Several other large investors also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. raised its holdings in shares of Telefonica Brasil by 2.8% during the first quarter. Robeco Institutional Asset Management B.V. now owns 15,613,608 shares of the Wireless communications provider's stock valued at $136,151,000 after buying an additional 420,973 shares during the last quarter. Aberdeen Group plc lifted its position in Telefonica Brasil by 4.2% during the 1st quarter. Aberdeen Group plc now owns 2,844,839 shares of the Wireless communications provider's stock worth $24,807,000 after acquiring an additional 114,849 shares during the last quarter. Invesco Ltd. raised 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 valued at $12,605,000 after buying an additional 385,848 shares during the last quarter. Strs Ohio acquired a new position in Telefonica Brasil in the first quarter worth about $7,147,000. Finally, Two Sigma Investments LP grew its stake in Telefonica Brasil by 151.9% during the fourth quarter. Two Sigma Investments LP now owns 686,792 shares of the Wireless communications provider's stock worth $5,185,000 after buying an additional 414,193 shares during the last quarter. 5.16% of the stock is currently owned by institutional investors and hedge funds.

Telefonica Brasil Trading Down 0.6%

Shares of NYSE VIV traded down $0.08 during mid-day trading on Friday, hitting $12.59. The stock had a trading volume of 866,832 shares, compared to its average volume of 661,805. The firm has a market cap of $20.48 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 0.86 and a beta of 0.81. The business has a 50 day moving average price of $11.99 and a two-hundred day moving average price of $12.42. Telefonica Brasil S.A. has a 1 year low of $7.47 and a 1 year high of $12.92. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.98.

Telefonica Brasil (NYSE:VIV - Get Free Report) last announced its 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). The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $14.48 billion. Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.32%. On average, equities analysts anticipate that Telefonica Brasil S.A. will post 0.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on VIV. Wall Street Zen upgraded shares of Telefonica Brasil from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Citigroup started coverage on shares of Telefonica Brasil in a report on Wednesday, September 10th. They issued a "neutral" rating for the company. Scotiabank boosted their target price 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, July 31st. The Goldman Sachs Group upped their price objective on shares of Telefonica Brasil from $11.40 to $12.60 and gave the stock a "buy" rating in a research report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating on shares of Telefonica Brasil in a report on Friday, August 8th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Telefonica Brasil has a consensus rating of "Hold" and an average price target of $12.70.

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.