Envestnet Asset Management Inc. Cuts Stake in Telefônica Brasil S.A. (NYSE:VIV)

Envestnet Asset Management Inc. lowered its stake in Telefônica Brasil S.A. (NYSE:VIV) by 23.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 370,591 shares of the Wireless communications provider’s stock after selling 115,685 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Telefônica Brasil were worth $3,043,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Crossmark Global Holdings Inc. lifted its position in shares of Telefônica Brasil by 6.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 75,406 shares of the Wireless communications provider’s stock worth $824,000 after purchasing an additional 4,723 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in Telefônica Brasil in the 4th quarter worth $535,000. Personal CFO Solutions LLC acquired a new stake in shares of Telefônica Brasil during the fourth quarter valued at about $136,000. V Square Quantitative Management LLC acquired a new position in shares of Telefônica Brasil in the fourth quarter worth about $525,000. Finally, Goldman Sachs Group Inc. grew its stake in Telefônica Brasil by 165.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,856,545 shares of the Wireless communications provider’s stock valued at $20,311,000 after purchasing an additional 1,157,304 shares in the last quarter. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

Telefônica Brasil Price Performance

Shares of NYSE VIV opened at $9.96 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.03 and a quick ratio of 0.98. The firm has a market capitalization of $16.57 billion, a PE ratio of 15.81, a P/E/G ratio of 1.01 and a beta of 0.80. Telefônica Brasil S.A. has a 1-year low of $8.02 and a 1-year high of $11.43. The business’s fifty day moving average price is $9.51 and its two-hundred day moving average price is $9.23.

Telefônica Brasil (NYSE:VIV) last released its quarterly earnings data on Monday, July 29th. The Wireless communications provider reported $0.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.14. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Telefônica Brasil had a net margin of 9.65% and a return on equity of 7.53%. During the same quarter last year, the company earned $0.14 EPS. On average, research analysts expect that Telefônica Brasil S.A. will post 0.61 EPS for the current year.

Telefônica Brasil Cuts Dividend

The firm also recently disclosed a — dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.0379 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a dividend yield of 3.2%. Telefônica Brasil’s dividend payout ratio is presently 44.44%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VIV shares. StockNews.com upgraded shares of Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 25th. Scotiabank increased their target price on shares of Telefônica Brasil from $9.20 to $10.40 and gave the stock a “sector perform” rating in a report on Friday, September 20th. Morgan Stanley upgraded shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating in a research report on Thursday, July 11th. Finally, Barclays boosted their price objective on shares of Telefônica Brasil from $11.00 to $11.50 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.97.

About Telefônica 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.