Telefônica Brasil S.A. (NYSE:VIV) Shares Purchased by M&T Bank Corp

M&T Bank Corp boosted its holdings in shares of Telefônica Brasil S.A. (NYSE:VIV) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,462 shares of the Wireless communications provider’s stock after acquiring an additional 3,820 shares during the period. M&T Bank Corp’s holdings in Telefônica Brasil were worth $416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new stake in Telefônica Brasil during the 3rd quarter worth about $5,967,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Telefônica Brasil during the third quarter worth about $5,135,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 worth $12,034,000 after buying an additional 385,207 shares in the last quarter. Brandes Investment Partners LP raised its position in shares of Telefônica Brasil by 14.3% in the second quarter. Brandes Investment Partners LP now owns 2,206,334 shares of the Wireless communications provider’s stock valued at $18,261,000 after buying an additional 275,569 shares during the last quarter. Finally, Millennium Management LLC lifted its stake 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 valued at $4,466,000 after buying an additional 267,652 shares during the period. Hedge funds and other institutional investors own 5.16% of the company’s stock.

Analyst Upgrades and Downgrades

VIV has been the subject of several analyst reports. New Street Research downgraded Telefônica Brasil from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. StockNews.com lowered Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 12th. Scotiabank raised their price target on Telefônica Brasil from $9.20 to $10.40 and gave the stock a “sector perform” rating in a research note on Friday, September 20th. Finally, Barclays lifted their price target on Telefônica Brasil from $11.50 to $11.80 and gave the company an “equal weight” rating in a report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.07.

Telefônica Brasil Price Performance

Shares of Telefônica Brasil stock opened at $7.70 on Thursday. The business’s fifty day moving average price is $8.93 and its 200 day moving average price is $9.04. Telefônica Brasil S.A. has a twelve month low of $7.66 and a twelve month high of $11.43. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $12.81 billion, a P/E ratio of 12.22, a PEG ratio of 0.78 and a beta of 0.78.

Telefônica Brasil (NYSE:VIV) last released its quarterly earnings data on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.03. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. During the same period in the previous year, the company posted $0.18 EPS. As a group, research analysts anticipate that Telefônica Brasil S.A. will post 0.63 earnings per share for the current year.

Telefônica Brasil Company 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.