Telefonica Brasil S.A. $VIV Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Telefonica Brasil S.A. by 5% during the first quarter, now holding 394,417 shares valued at approximately $3.44 million.
• Telefonica Brasil's stock experienced fluctuations, opening at $12.46 and has a one year low of $7.47 and a high of $12.92, with a market capitalization of $20.26 billion.
• The company announced a monthly dividend of $0.0369 per share, representing an annualized yield of 3.6%, with a payout ratio of 46.77%.

Wellington Management Group LLP trimmed its holdings in Telefonica Brasil S.A. (NYSE:VIV - Free Report) by 5.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 394,417 shares of the Wireless communications provider's stock after selling 20,882 shares during the quarter. Wellington Management Group LLP's holdings in Telefonica Brasil were worth $3,439,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in VIV. SBI Securities Co. Ltd. boosted its holdings 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 valued at $33,000 after buying an additional 1,067 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its position in Telefonica Brasil by 1.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 82,053 shares of the Wireless communications provider's stock valued at $620,000 after acquiring an additional 1,086 shares during the last quarter. Bessemer Group Inc. boosted its stake in Telefonica Brasil by 8.8% in the first quarter. Bessemer Group Inc. now owns 28,546 shares of the Wireless communications provider's stock valued at $249,000 after acquiring an additional 2,301 shares in the last quarter. BSW Wealth Partners grew its holdings in shares of Telefonica Brasil by 10.5% during the first quarter. BSW Wealth Partners now owns 24,548 shares of the Wireless communications provider's stock worth $214,000 after purchasing an additional 2,336 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its position in shares of Telefonica Brasil by 7.7% during the first quarter. Kathmere Capital Management LLC now owns 35,852 shares of the Wireless communications provider's stock worth $313,000 after purchasing an additional 2,576 shares in the last quarter. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on VIV. Zacks Research downgraded Telefonica Brasil from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 22nd. Wall Street Zen raised shares of Telefonica Brasil from a "hold" rating to a "buy" rating in a report on Saturday. Barclays reiterated an "overweight" rating and set a $13.00 price target (up previously from $12.50) on shares of Telefonica Brasil in a research note on Thursday, August 7th. The Goldman Sachs Group lifted their price objective on shares of Telefonica Brasil from $11.40 to $12.60 and gave the company a "buy" rating in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. restated an "underweight" rating on shares of Telefonica Brasil in a research note on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Telefonica Brasil has a consensus rating of "Hold" and a consensus target price of $12.70.

Telefonica Brasil Price Performance

Telefonica Brasil stock traded up $0.06 during trading hours on Wednesday, hitting $12.23. The stock had a trading volume of 444,813 shares, compared to its average volume of 1,296,007. Telefonica Brasil S.A. has a 1-year low of $7.47 and a 1-year high of $12.92. The stock has a market capitalization of $19.89 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 0.85 and a beta of 0.81. The stock's fifty day moving average is $11.72 and its two-hundred day moving average is $12.86. 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 posted 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). Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.32%. The business had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $14.48 billion. As a group, analysts predict that Telefonica Brasil S.A. will post 0.6 earnings per share for the current fiscal year.

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.