Driehaus Capital Management LLC Reduces Holdings in Telefonica Brasil S.A. $VIV

Key Points

• Driehaus Capital Management LLC has significantly reduced its holdings in Telefonica Brasil S.A. by 53.5% during the 1st quarter, now owning 173,081 shares worth approximately $1.5 million.
• Barclays and Goldman Sachs have both raised their price targets for Telefonica Brasil, with Barclays setting a new target of $13.00 and Goldman Sachs at $12.60, reflecting positive analyst sentiment.
• Telefonica Brasil declared a monthly dividend of $0.0369 per share, representing a 3.6% yield, set to be paid on January 1st to shareholders of record on August 26th.

Driehaus Capital Management LLC decreased its holdings in shares of Telefonica Brasil S.A. (NYSE:VIV - Free Report) by 53.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 173,081 shares of the Wireless communications provider's stock after selling 199,060 shares during the period. Driehaus Capital Management LLC's holdings in Telefonica Brasil were worth $1,509,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its holdings in shares of Telefonica Brasil by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 3,783 shares of the Wireless communications provider's stock worth $33,000 after purchasing an additional 1,067 shares during the period. Rhumbline Advisers lifted its holdings in shares of Telefonica Brasil by 337.7% during the first quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider's stock worth $37,000 after purchasing an additional 3,266 shares during the period. SVB Wealth LLC acquired a new stake in shares of Telefonica Brasil during the first quarter worth about $41,000. Brooklyn Investment Group lifted its holdings in shares of Telefonica Brasil by 946.6% during the first quarter. Brooklyn Investment Group now owns 7,944 shares of the Wireless communications provider's stock worth $69,000 after purchasing an additional 7,185 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Telefonica Brasil by 984.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,251 shares of the Wireless communications provider's stock worth $70,000 after purchasing an additional 8,398 shares during the period. Institutional investors and hedge funds own 5.16% of the company's stock.

Telefonica Brasil Price Performance

Shares of VIV stock traded up $0.15 during trading hours on Friday, hitting $12.48. 552,477 shares of the company's stock were exchanged, compared to its average volume of 852,769. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. The firm has a market cap of $20.29 billion, a P/E ratio of 20.12, a P/E/G ratio of 0.85 and a beta of 0.81. The firm has a 50 day moving average of $11.81 and a two-hundred day moving average of $12.73. Telefonica Brasil S.A. has a fifty-two week low of $7.47 and a fifty-two week high of $12.92.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VIV shares. Barclays reaffirmed an "overweight" rating and set a $13.00 target price (up previously from $12.50) on shares of Telefonica Brasil in a report on Thursday, August 7th. Scotiabank lifted their target price on Telefonica Brasil from $8.80 to $12.50 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Wall Street Zen raised Telefonica Brasil from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. The Goldman Sachs Group boosted their price target on Telefonica Brasil from $11.40 to $12.60 and gave the company a "buy" rating in a report on Tuesday, August 19th. Finally, Zacks Research downgraded Telefonica Brasil from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.70.

Telefonica Brasil 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.