Strs Ohio Sells 124,891 Shares of Telefonica Brasil S.A. $VIV

Key Points

• STRS Ohio reduced its stake in Telefonica Brasil by 14.9%, selling 124,891 shares and leaving it with 715,109 shares worth about $8.48 million at quarter-end.
• Analyst sentiment is mixed with an average rating of "Hold" and an average target price of $14.08; recent notes include a Zacks upgrade to Strong-Buy and an UBS downgrade to Sell, while Scotiabank and Barclays raised targets to $15.30 and $16.50 respectively.
• Telefonica Brasil declared a cash dividend of $0.4562 per share payable July 21 (record/ex-dividend date May 22), reflecting a payout ratio of about 65.7%.

Strs Ohio decreased its position in Telefonica Brasil S.A. (NYSE:VIV - Free Report) by 14.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 715,109 shares of the Wireless communications provider's stock after selling 124,891 shares during the quarter. Strs Ohio's holdings in Telefonica Brasil were worth $8,481,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in VIV. Rhumbline Advisers grew its stake in shares of Telefonica Brasil by 337.7% during the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider's stock valued at $37,000 after purchasing an additional 3,266 shares during the period. Advisors Asset Management Inc. bought a new stake in shares of Telefonica Brasil during the 1st quarter valued at about $52,000. EverSource Wealth Advisors LLC grew its stake in shares of Telefonica Brasil by 214.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider's stock valued at $54,000 after purchasing an additional 3,248 shares during the period. Westfuller Advisors LLC bought a new stake in shares of Telefonica Brasil during the 3rd quarter valued at about $59,000. Finally, SG Americas Securities LLC bought a new stake in shares of Telefonica Brasil during the 4th quarter valued at about $110,000. 5.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VIV has been the subject of a number of recent research reports. Zacks Research upgraded Telefonica Brasil from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 9th. Scotiabank boosted their price target on Telefonica Brasil from $12.50 to $15.30 and gave the company a "sector perform" rating in a research note on Monday, March 30th. Barclays set a $16.50 price target on Telefonica Brasil and gave the company an "equal weight" rating in a research note on Friday, April 17th. UBS Group downgraded Telefonica Brasil from a "buy" rating to a "sell" rating in a research note on Wednesday, March 11th. Finally, Bradesco Corretora cut Telefonica Brasil to a "neutral" rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $14.08.

Telefonica Brasil Stock Down 0.2%

VIV stock opened at $15.74 on Tuesday. Telefonica Brasil S.A. has a twelve month low of $9.41 and a twelve month high of $17.25. The company has a quick ratio of 0.94, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The stock has a market cap of $25.60 billion, a P/E ratio of 22.48, a PEG ratio of 0.98 and a beta of 0.63. The business's 50-day moving average price is $16.02 and its 200-day moving average price is $14.05.

Telefonica Brasil (NYSE:VIV - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The Wireless communications provider reported $0.21 earnings per share for the quarter. Telefonica Brasil had a return on equity of 9.15% and a net margin of 10.42%.The firm had revenue of $2.83 billion for the quarter. On average, equities research analysts forecast that Telefonica Brasil S.A. will post 0.91 EPS for the current year.

Telefonica Brasil Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Friday, May 22nd will be given a dividend of $0.4562 per share. The ex-dividend date of this dividend is Friday, May 22nd. Telefonica Brasil's payout ratio is presently 65.71%.

Telefonica Brasil Company Profile

Telefônica Brasil SA, commonly marketed under the Vivo brand, is one of Brazil's largest telecommunications providers, offering a broad range of consumer and enterprise communications services. The company's core activities include mobile voice and data services, fixed-line telephony, broadband internet (including fiber-to-the-home), and pay-TV solutions. It also provides ICT and managed services for business customers, such as cloud, data center, connectivity, Internet of Things (IoT) and security solutions.

Vivo operates a nationwide network across Brazil and serves both individual consumers and corporate clients.

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