Telefonica Brasil S.A. $VIV Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC reduced its holdings in shares of Telefonica Brasil S.A. (NYSE:VIV) by 53.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in VIV. Envestnet Asset Management Inc. grew its stake in Telefonica Brasil by 16.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 449,213 shares of the Wireless communications provider’s stock valued at $3,917,000 after purchasing an additional 63,241 shares during the last quarter. Federated Hermes Inc. grew its stake in Telefonica Brasil by 45.6% during the 1st quarter. Federated Hermes Inc. now owns 612,915 shares of the Wireless communications provider’s stock valued at $5,345,000 after purchasing an additional 191,842 shares during the last quarter. Invesco Ltd. grew its stake in 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 purchasing an additional 385,848 shares during the last quarter. Aberdeen Group plc grew its stake in Telefonica Brasil by 4.2% during the 1st quarter. Aberdeen Group plc now owns 2,844,839 shares of the Wireless communications provider’s stock valued at $24,807,000 after purchasing an additional 114,849 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Telefonica Brasil during the 1st quarter valued at about $551,000. 5.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. 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 boosted their price target on Telefonica Brasil from $11.40 to $12.60 and gave the company a “buy” rating in a research note on Tuesday, August 19th. Scotiabank boosted their price target on Telefonica Brasil from $8.80 to $12.50 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Wall Street Zen upgraded Telefonica Brasil from a “hold” rating to a “buy” rating in a research note on Saturday. 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.70.

Telefonica Brasil Stock Down 1.2%

Shares of VIV opened at $12.46 on Monday. Telefonica Brasil S.A. has a 52 week low of $7.47 and a 52 week high of $12.92. 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 company has a market capitalization of $20.26 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 0.85 and a beta of 0.81. The stock’s 50-day moving average price is $11.67 and its 200-day moving average price is $12.91.

Telefonica Brasil (NYSE:VIV) last issued its earnings results on Monday, July 28th. The Wireless communications provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $14.48 billion. Telefonica Brasil had a return on equity of 8.32% and a net margin of 10.13%. On average, sell-side analysts predict that Telefonica Brasil S.A. will post 0.6 EPS for the current year.

Telefonica Brasil Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, January 1st. Shareholders of record on Tuesday, August 26th will be given a dividend of $0.0369 per share. The ex-dividend date is Tuesday, August 26th. This represents a c) dividend on an annualized basis and a yield of 3.6%. Telefonica Brasil’s dividend payout ratio is currently 46.77%.

Telefonica Brasil Company 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.