Baird Financial Group Inc. Cuts Stake in Telefonica Brasil S.A. (VIV)

Baird Financial Group Inc. decreased its position in Telefonica Brasil S.A. (NYSE:VIV) by 20.5% during the fourth quarter, Holdings Channel reports. The fund owned 297,323 shares of the company’s stock after selling 76,729 shares during the period. Baird Financial Group Inc.’s holdings in Telefonica Brasil were worth $3,978,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in VIV. FNY Partners Fund LP bought a new position in shares of Telefonica Brasil during the fourth quarter worth about $134,000. Quantbot Technologies LP bought a new position in shares of Telefonica Brasil during the third quarter worth about $183,000. Princeton Alpha Management LP bought a new position in shares of Telefonica Brasil during the third quarter worth about $196,000. Fox Run Management L.L.C. bought a new position in shares of Telefonica Brasil during the third quarter worth about $224,000. Finally, Opus Capital Group LLC bought a new position in shares of Telefonica Brasil during the third quarter worth about $241,000. Institutional investors own 10.19% of the company’s stock.

Institutional Ownership by Quarter for Telefonica Brasil (NYSE:VIV)

Shares of Telefonica Brasil S.A. (NYSE:VIV) traded down 1.06% during trading on Friday, reaching $15.00. 225,521 shares of the company traded hands. The company has a 50 day moving average price of $14.54 and a 200 day moving average price of $14.10. Telefonica Brasil S.A. has a 12-month low of $8.90 and a 12-month high of $15.69. The firm has a market capitalization of $25.33 billion, a price-to-earnings ratio of 20.05 and a beta of 1.50.

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The firm also recently declared a dividend, which will be paid on Friday, March 3rd. Investors of record on Friday, March 3rd will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, March 1st. Telefonica Brasil’s dividend payout ratio is 81.54%.

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A number of equities analysts have recently issued reports on the stock. RBC Capital Markets reiterated an “underperform” rating on shares of Telefonica Brasil in a research report on Saturday, October 22nd. Zacks Investment Research upgraded shares of Telefonica Brasil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 31st. Finally, Credit Suisse Group upgraded shares of Telefonica Brasil from a “neutral” rating to an “outperform” rating in a research report on Friday, October 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Telefonica Brasil presently has an average rating of “Hold” and a consensus target price of $16.25.

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. It offers its clients a portfolio of products, including mobile and fixed voice, mobile data, fixed broadband, ultra-fast broadband (UBB), Pay television, information technology and digital services (such as e-health, cloud and financial services).

5 Day Chart for NYSE:VIV

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