Ritholtz Wealth Management Sells 6,832 Shares of Telefônica Brasil S.A. (NYSE:VIV)

Ritholtz Wealth Management trimmed its position in shares of Telefônica Brasil S.A. (NYSE:VIV) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,405 shares of the Wireless communications provider’s stock after selling 6,832 shares during the period. Ritholtz Wealth Management’s holdings in Telefônica Brasil were worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in Telefônica Brasil by 165.5% during the fourth 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. Aprio Wealth Management LLC increased its stake in Telefônica Brasil by 21.8% during the first quarter. Aprio Wealth Management LLC now owns 15,953 shares of the Wireless communications provider’s stock worth $161,000 after acquiring an additional 2,853 shares during the last quarter. Shilanski & Associates Inc. purchased a new stake in Telefônica Brasil during the first quarter valued at approximately $167,000. Ballentine Partners LLC lifted its stake in shares of Telefônica Brasil by 86.0% in the 1st quarter. Ballentine Partners LLC now owns 25,061 shares of the Wireless communications provider’s stock valued at $252,000 after purchasing an additional 11,589 shares during the last quarter. Finally, DGS Capital Management LLC boosted its holdings in shares of Telefônica Brasil by 4.7% in the 1st quarter. DGS Capital Management LLC now owns 77,857 shares of the Wireless communications provider’s stock worth $784,000 after purchasing an additional 3,521 shares during the period. 5.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Telefônica Brasil Trading Up 1.5 %

VIV stock opened at $9.51 on Tuesday. Telefônica Brasil S.A. has a 12 month low of $8.02 and a 12 month high of $11.43. The firm’s 50-day moving average is $9.66 and its 200 day moving average is $9.19. The company has a market capitalization of $15.82 billion, a PE ratio of 15.10, a P/E/G ratio of 0.96 and a beta of 0.80. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.03 and a quick ratio of 0.98.

Telefônica Brasil (NYSE:VIV) last posted its quarterly earnings results on Monday, July 29th. The Wireless communications provider reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. Telefônica Brasil had a net margin of 9.65% and a return on equity of 7.53%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, research analysts anticipate that Telefônica Brasil S.A. will post 0.61 EPS for the current year.

Telefônica Brasil Cuts Dividend

The company also recently declared a — dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 27th were paid 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 currently 44.44%.

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.