XTX Topco Ltd Reduces Holdings in Telefonica Brasil S.A. $VIV

Key Points

• XTX Topco Ltd significantly reduced its stake in Telefonica Brasil S.A. by 69.8% during the first quarter, holding only 15,951 shares worth approximately $139,000 after selling over 36,900 shares.
• Shares of Telefonica Brasil opened at $12.30 with a market capitalization of $20 billion and a P/E ratio of 19.83, indicating a solid financial position despite missing earnings estimates.
• Analysts have mixed ratings on Telefonica Brasil, with Scotiabank raising their target price to $12.50, while Wall Street Zen downgraded the stock from "buy" to "hold".

XTX Topco Ltd lowered its stake in shares of Telefonica Brasil S.A. (NYSE:VIV - Free Report) by 69.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 15,951 shares of the Wireless communications provider's stock after selling 36,902 shares during the quarter. XTX Topco Ltd's holdings in Telefonica Brasil were worth $139,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its stake in 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 acquiring an additional 1,067 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of 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 purchasing an additional 3,266 shares during the period. Parvin Asset Management LLC bought a new position in Telefonica Brasil in the fourth quarter worth approximately $51,000. GeoWealth Management LLC increased its holdings in 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 worth $64,000 after purchasing an additional 7,976 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in 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 in the last quarter. Hedge funds and other institutional investors own 5.16% of the company's stock.

Telefonica Brasil Stock Down 1.7%

Telefonica Brasil stock traded down $0.22 during trading hours on Tuesday, reaching $12.28. The stock had a trading volume of 341,958 shares, compared to its average volume of 1,318,328. The company has a market cap of $19.97 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 0.84 and a beta of 0.71. The business's 50 day moving average price is $11.35 and its 200-day moving average price is $13.24. Telefonica Brasil S.A. has a 52 week low of $7.47 and a 52 week high of $12.52. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.95.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their price target on Telefonica Brasil from $9.20 to $10.30 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Telefonica Brasil in a report on Friday, August 8th. Scotiabank boosted their price target on shares of Telefonica Brasil from $8.80 to $12.50 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Wall Street Zen downgraded shares of Telefonica Brasil from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Barclays reissued an "overweight" rating and issued a $13.00 price objective (up previously from $12.50) on shares of Telefonica Brasil in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Telefonica Brasil presently has an average rating of "Hold" and an average price target of $11.93.

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.