Telefonica Brasil (NYSE:VIV) Reaches New 12-Month High - Here's Why

Shares of Telefonica Brasil S.A. (NYSE:VIV - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $11.04 and last traded at $11.03, with a volume of 1166513 shares changing hands. The stock had previously closed at $10.86.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays upgraded shares of Telefonica Brasil from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $23.60 to $23.00 in a research note on Monday, March 3rd. Scotiabank reduced their price target on Telefonica Brasil from $20.80 to $18.40 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Wall Street Zen upgraded Telefonica Brasil from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, The Goldman Sachs Group increased their price objective on Telefonica Brasil from $9.20 to $10.30 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $17.23.

Telefonica Brasil Stock Up 2.4%

The stock has a market cap of $18.20 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 1.21 and a beta of 0.72. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The firm's 50 day moving average is $10.01 and its two-hundred day moving average is $14.49.

Telefonica Brasil (NYSE:VIV - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The Wireless communications provider reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). Telefonica Brasil had a net margin of 10.07% and a return on equity of 8.09%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $14.41 billion. On average, sell-side analysts predict that Telefonica Brasil S.A. will post 0.6 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VIV. Strs Ohio purchased a new stake in shares of Telefonica Brasil in the first quarter valued at $7,147,000. Millennium Management LLC boosted its stake in Telefonica Brasil by 283.2% in the 4th quarter. Millennium Management LLC now owns 592,234 shares of the Wireless communications provider's stock worth $4,471,000 after buying an additional 437,678 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Telefonica Brasil by 2.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 15,613,608 shares of the Wireless communications provider's stock valued at $136,151,000 after buying an additional 420,973 shares during the period. Two Sigma Investments LP grew its holdings in Telefonica Brasil by 151.9% in the 4th quarter. Two Sigma Investments LP now owns 686,792 shares of the Wireless communications provider's stock valued at $5,185,000 after buying an additional 414,193 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Telefonica Brasil by 36.4% during the 1st quarter. Invesco Ltd. now owns 1,445,527 shares of the Wireless communications provider's stock valued at $12,605,000 after acquiring an additional 385,848 shares during the last quarter. Hedge funds and other institutional investors own 5.16% of the company's stock.

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.