Driehaus Capital Management LLC Sells 172,680 Shares of Telefônica Brasil S.A. (NYSE:VIV)

Driehaus Capital Management LLC cut its holdings in shares of Telefônica Brasil S.A. (NYSE:VIV) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,794,756 shares of the Wireless communications provider’s stock after selling 172,680 shares during the period. Driehaus Capital Management LLC’s holdings in Telefônica Brasil were worth $22,945,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its position in shares of 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 worth $20,311,000 after acquiring an additional 1,157,304 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Telefônica Brasil by 12.1% during the second quarter. Renaissance Technologies LLC now owns 1,828,800 shares of the Wireless communications provider’s stock worth $15,014,000 after acquiring an additional 197,500 shares in the last quarter. Pinebridge Investments L.P. increased its position in shares of Telefônica Brasil by 82.7% during the fourth quarter. Pinebridge Investments L.P. now owns 1,601,608 shares of the Wireless communications provider’s stock worth $17,517,000 after acquiring an additional 725,072 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Telefônica Brasil by 6.3% during the first quarter. Vanguard Group Inc. now owns 1,222,562 shares of the Wireless communications provider’s stock worth $12,311,000 after acquiring an additional 72,388 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Telefônica Brasil by 12.9% during the second quarter. Sei Investments Co. now owns 710,107 shares of the Wireless communications provider’s stock worth $5,830,000 after acquiring an additional 81,229 shares in the last quarter. 5.16% of the stock is owned by institutional investors.

Telefônica Brasil Stock Up 1.5 %

VIV opened at $10.22 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.03 and a debt-to-equity ratio of 0.21. The stock has a market cap of $17.00 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.00 and a beta of 0.79. Telefônica Brasil S.A. has a twelve month low of $8.02 and a twelve month high of $11.43. The company’s 50-day moving average price is $9.39 and its two-hundred day moving average price is $9.23.

Telefônica Brasil (NYSE:VIV) last announced its quarterly earnings results on Monday, July 29th. The Wireless communications provider reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. The company 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 period in the prior year, the company posted $0.14 EPS. As a group, equities analysts expect that Telefônica Brasil S.A. will post 0.61 earnings per share for the current year.

Telefônica Brasil Cuts Dividend

The company also recently announced a — dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 27th were issued a dividend of $0.0379 per share. This represents a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, August 27th. Telefônica Brasil’s dividend payout ratio (DPR) is presently 44.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VIV shares. StockNews.com raised shares of Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Scotiabank upped their price objective on shares of Telefônica Brasil from $9.20 to $10.40 and gave the stock a “sector perform” rating in a research report on Friday, September 20th. Morgan Stanley raised shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating in a research report on Thursday, July 11th. Finally, Barclays upped their price objective on shares of Telefônica Brasil from $11.00 to $11.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.98.

Telefônica Brasil Profile

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.