SG Americas Securities LLC bought a new stake in Telefonica Brasil S.A. (NYSE:VIV) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 96,484 shares of the Wireless communications provider’s stock, valued at approximately $1,302,000.
Several other hedge funds have also recently modified their holdings of the company. First Trust Advisors LP raised its holdings in shares of Telefonica Brasil by 597.1% in the 2nd quarter. First Trust Advisors LP now owns 113,231 shares of the Wireless communications provider’s stock valued at $1,527,000 after purchasing an additional 96,988 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Telefonica Brasil by 145.8% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 23,604 shares of the Wireless communications provider’s stock valued at $306,000 after acquiring an additional 14,000 shares during the period. Trexquant Investment LP bought a new position in Telefonica Brasil in the 2nd quarter valued at about $175,000. British Airways Pensions Investment Management Ltd raised its holdings in Telefonica Brasil by 11.2% in the 2nd quarter. British Airways Pensions Investment Management Ltd now owns 117,554 shares of the Wireless communications provider’s stock valued at $1,585,000 after acquiring an additional 11,880 shares during the period. Finally, Garde Capital Inc. bought a new position in Telefonica Brasil in the 2nd quarter valued at about $437,000. 10.04% of the stock is currently owned by institutional investors.
VIV has been the topic of several research analyst reports. Zacks Investment Research cut shares of Telefonica Brasil from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. Royal Bank Of Canada set a $15.00 price target on shares of Telefonica Brasil and gave the company a “hold” rating in a report on Friday, July 28th. BidaskClub cut shares of Telefonica Brasil from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $15.00 target price on shares of Telefonica Brasil in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Telefonica Brasil has an average rating of “Hold” and a consensus target price of $15.33.
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Telefonica Brasil S.A. (VIV) traded up 1.35% during mid-day trading on Friday, hitting $16.53. 1,224,228 shares of the company traded hands. Telefonica Brasil S.A. has a one year low of $11.95 and a one year high of $16.55. The firm has a market capitalization of $27.91 billion, a P/E ratio of 21.92 and a beta of 1.35. The firm has a 50 day moving average of $15.42 and a 200 day moving average of $14.67.
Telefonica Brasil (NYSE:VIV) last announced its quarterly earnings data on Wednesday, July 26th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.06). Telefonica Brasil had a net margin of 9.41% and a return on equity of 5.91%. The business had revenue of $3.33 billion during the quarter. Equities research analysts expect that Telefonica Brasil S.A. will post $0.90 earnings per share for the current fiscal year.
About Telefonica Brasil
Telefonica Brasil SA is a mobile telecommunications company in Brazil offering postpaid mobile services. The Company also operates as a fixed telecommunications company in the state of Sao Paulo. The Company markets its mobile services under its Vivo brand. It offers its clients a portfolio of products, including mobile and fixed voice, mobile data, fixed broadband, ultra-fast broadband, Pay television, information technology and digital services.
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