Telefônica Brasil S.A. (NYSE:VIV) Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. cut its stake in shares of Telefônica Brasil S.A. (NYSE:VIV - Free Report) by 56.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,582 shares of the Wireless communications provider's stock after selling 106,497 shares during the period. Waterfront Wealth Inc.'s holdings in Telefônica Brasil were worth $914,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in VIV. Advisor Group Holdings Inc. increased its position in shares of Telefônica Brasil by 20.7% during the first quarter. Advisor Group Holdings Inc. now owns 18,222 shares of the Wireless communications provider's stock valued at $239,000 after acquiring an additional 3,127 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Telefônica Brasil by 40.8% in the first quarter. Raymond James & Associates now owns 111,375 shares of the Wireless communications provider's stock valued at $1,253,000 after purchasing an additional 32,301 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Telefônica Brasil by 12.2% in the first quarter. American Century Companies Inc. now owns 42,076 shares of the Wireless communications provider's stock valued at $473,000 after purchasing an additional 4,571 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Telefônica Brasil by 17.9% in the first quarter. HighTower Advisors LLC now owns 12,097 shares of the Wireless communications provider's stock valued at $136,000 after purchasing an additional 1,839 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Telefônica Brasil by 3.3% in the first quarter. BlackRock Inc. now owns 3,227,500 shares of the Wireless communications provider's stock valued at $36,309,000 after purchasing an additional 103,931 shares in the last quarter. 5.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Morgan Stanley restated an "equal weight" rating and issued a $11.00 price objective on shares of Telefônica Brasil in a report on Friday, January 5th. StockNews.com upgraded shares of Telefônica Brasil from a "buy" rating to a "strong-buy" rating in a report on Tuesday, February 20th. Barclays lifted their price objective on shares of Telefônica Brasil from $13.00 to $13.50 and gave the company an "equal weight" rating in a report on Monday, February 26th. Finally, TheStreet upgraded shares of Telefônica Brasil from a "c-" rating to a "b" rating in a report on Thursday, December 21st. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.73.

Telefônica Brasil Stock Down 0.5 %

Shares of NYSE:VIV traded down $0.05 during trading on Thursday, hitting $9.27. 853,482 shares of the company were exchanged, compared to its average volume of 851,846. The stock has a market capitalization of $15.42 billion, a P/E ratio of 15.03, a PEG ratio of 0.72 and a beta of 0.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.92. Telefônica Brasil S.A. has a 12-month low of $7.87 and a 12-month high of $11.43. The firm's 50 day moving average price is $10.40 and its 200-day moving average price is $10.21.

Telefônica Brasil (NYSE:VIV - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The Wireless communications provider reported $0.20 earnings per share for the quarter. The business had revenue of $2.73 billion during the quarter. Telefônica Brasil had a net margin of 9.70% and a return on equity of 7.33%. On average, research analysts predict that Telefônica Brasil S.A. will post 0.7 earnings per share for the current fiscal year.

Telefônica Brasil Increases Dividend

The firm also recently declared a -- dividend, which was paid on Tuesday, April 9th. Investors of record on Wednesday, April 10th were given a $0.1823 dividend. This is an increase from Telefônica Brasil's previous -- dividend of $0.03. The ex-dividend date was Tuesday, April 9th. This represents a yield of 4%. Telefônica Brasil's dividend payout ratio is 41.94%.

Telefônica 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.