Longfellow Investment Management Co. LLC Sells 13,533 Shares of Telefonica Brasil S.A. $VIV

Longfellow Investment Management Co. LLC lowered its stake in shares of Telefonica Brasil S.A. (NYSE:VIV) by 4.9% in the second quarter, Holdings Channel reports. The firm owned 260,062 shares of the Wireless communications provider’s stock after selling 13,533 shares during the period. Telefonica Brasil comprises about 0.7% of Longfellow Investment Management Co. LLC’s holdings, making the stock its 19th biggest position. Longfellow Investment Management Co. LLC’s holdings in Telefonica Brasil were worth $2,965,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its stake in shares of Telefonica Brasil by 2.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 40,454 shares of the Wireless communications provider’s stock worth $461,000 after buying an additional 1,109 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Telefonica Brasil by 45.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,163 shares of the Wireless communications provider’s stock worth $59,000 after acquiring an additional 1,619 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Telefonica Brasil by 8.2% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,383 shares of the Wireless communications provider’s stock valued at $244,000 after purchasing an additional 1,623 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Telefonica Brasil by 5.3% in the second quarter. Bank of Montreal Can now owns 54,966 shares of the Wireless communications provider’s stock worth $627,000 after purchasing an additional 2,790 shares during the period. Finally, Signaturefd LLC lifted its position in shares of Telefonica Brasil by 13.6% during the 2nd quarter. Signaturefd LLC now owns 24,005 shares of the Wireless communications provider’s stock worth $274,000 after purchasing an additional 2,882 shares during the last quarter. Institutional investors own 5.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on VIV. Wall Street Zen upgraded Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Zacks Research lowered shares of Telefonica Brasil from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 22nd. Scotiabank increased their target price on shares of Telefonica Brasil from $8.80 to $12.50 and gave the company a “sector perform” rating in a research note on Thursday, July 31st. Barclays restated an “overweight” rating and set a $14.50 price target on shares of Telefonica Brasil in a research note on Monday, November 3rd. Finally, Morgan Stanley set a $12.00 price objective on Telefonica Brasil in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.90.

Telefonica Brasil Stock Performance

Shares of NYSE:VIV opened at $12.74 on Monday. The stock has a market capitalization of $20.72 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 0.87 and a beta of 0.76. Telefonica Brasil S.A. has a fifty-two week low of $7.47 and a fifty-two week high of $13.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.95. The business’s fifty day moving average price is $12.49 and its two-hundred day moving average price is $11.67.

Telefonica Brasil (NYSE:VIV) last posted its earnings results on Thursday, October 30th. The Wireless communications provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.32%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $15.01 billion. As a group, analysts predict that Telefonica Brasil S.A. will post 0.6 EPS 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.