Amundi Lowers Position in Telefônica Brasil S.A. (NYSE:VIV)

Amundi decreased its stake in Telefônica Brasil S.A. (NYSE:VIV) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,027,490 shares of the Wireless communications provider’s stock after selling 60,368 shares during the quarter. Amundi’s holdings in Telefônica Brasil were worth $7,963,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Telefônica Brasil in the fourth quarter worth $403,000. US Bancorp DE increased its stake in Telefônica Brasil by 150.6% in the 4th quarter. US Bancorp DE now owns 45,450 shares of the Wireless communications provider’s stock worth $343,000 after buying an additional 27,315 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Telefônica Brasil during the fourth quarter valued at about $81,000. Waterfront Wealth Inc. lifted its position in shares of Telefônica Brasil by 1.1% in the fourth quarter. Waterfront Wealth Inc. now owns 212,575 shares of the Wireless communications provider’s stock valued at $1,605,000 after acquiring an additional 2,362 shares in the last quarter. Finally, Truist Financial Corp bought a new position in shares of Telefônica Brasil in the fourth quarter worth about $242,000. Institutional investors own 5.16% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on VIV shares. New Street Research downgraded Telefônica Brasil from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. Barclays raised shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $11.80 to $11.50 in a report on Monday, March 3rd. The Goldman Sachs Group cut their target price on shares of Telefônica Brasil from $10.60 to $9.20 and set a “buy” rating for the company in a research note on Thursday, December 19th. Scotiabank decreased their price target on shares of Telefônica Brasil from $10.40 to $9.20 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Finally, StockNews.com upgraded Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.97.

Telefônica Brasil Price Performance

Telefônica Brasil stock opened at $8.85 on Friday. Telefônica Brasil S.A. has a 52-week low of $7.47 and a 52-week high of $10.63. The company has a market cap of $14.62 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.84 and a beta of 0.76. The firm’s fifty day moving average is $8.56 and its 200 day moving average is $8.90. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Telefônica Brasil (NYSE:VIV) last announced its quarterly earnings results on Tuesday, February 25th. The Wireless communications provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.39 billion. Sell-side analysts forecast that Telefônica Brasil S.A. will post 0.6 EPS for the current fiscal year.

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.