Fmr LLC Lowers Stock Holdings in Telefônica Brasil S.A. (NYSE:VIV)

Fmr LLC cut its holdings in shares of Telefônica Brasil S.A. (NYSE:VIV) by 63.8% during the third quarter, Holdings Channel.com reports. The fund owned 7,076 shares of the Wireless communications provider’s stock after selling 12,470 shares during the period. Fmr LLC’s holdings in Telefônica Brasil were worth $73,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in VIV. Brandes Investment Partners LP grew its position in shares of Telefônica Brasil by 14.3% during the second quarter. Brandes Investment Partners LP now owns 2,206,334 shares of the Wireless communications provider’s stock worth $18,261,000 after purchasing an additional 275,569 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Telefônica Brasil by 12.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,828,800 shares of the Wireless communications provider’s stock valued at $15,014,000 after buying an additional 197,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Telefônica Brasil by 49.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,171,789 shares of the Wireless communications provider’s stock valued at $12,034,000 after buying an additional 385,207 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Telefônica Brasil by 12.9% in the second quarter. Sei Investments Co. now owns 710,107 shares of the Wireless communications provider’s stock worth $5,830,000 after buying an additional 81,229 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Telefônica Brasil by 96.8% during the second quarter. Millennium Management LLC now owns 544,019 shares of the Wireless communications provider’s stock worth $4,466,000 after acquiring an additional 267,652 shares during the last quarter. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

Telefônica Brasil Stock Performance

Shares of NYSE:VIV opened at $7.87 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. Telefônica Brasil S.A. has a 12 month low of $7.66 and a 12 month high of $11.43. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.78 and a beta of 0.78. The firm’s 50-day moving average is $8.83 and its 200 day moving average is $9.03.

Telefônica Brasil (NYSE:VIV) last released its earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Research analysts predict that Telefônica Brasil S.A. will post 0.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VIV. StockNews.com downgraded shares of Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 12th. Scotiabank lifted their target price on Telefônica Brasil from $9.20 to $10.40 and gave the stock a “sector perform” rating in a report on Friday, September 20th. New Street Research lowered Telefônica Brasil from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. The Goldman Sachs Group reduced their price objective on Telefônica Brasil from $10.60 to $9.20 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Barclays raised their target price on shares of Telefônica Brasil from $11.50 to $11.80 and gave the company an “equal weight” rating in a report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Telefônica Brasil currently has an average rating of “Moderate Buy” and an average price target of $10.60.

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.