Telefônica Brasil S.A. (NYSE:VIV) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Telefônica Brasil S.A. (NYSE:VIV) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,212 shares of the Wireless communications provider’s stock after selling 14,000 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Telefônica Brasil were worth $2,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brandes Investment Partners LP grew its holdings in shares of Telefônica Brasil by 14.3% during 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 purchasing an additional 275,569 shares during the last quarter. Millennium Management LLC grew its holdings 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 purchasing an additional 267,652 shares during the last quarter. Summit Global Investments grew its holdings in shares of Telefônica Brasil by 82.4% during the second quarter. Summit Global Investments now owns 523,647 shares of the Wireless communications provider’s stock valued at $4,299,000 after purchasing an additional 236,594 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Telefônica Brasil by 308.7% during the second quarter. Acadian Asset Management LLC now owns 264,192 shares of the Wireless communications provider’s stock valued at $2,166,000 after purchasing an additional 199,546 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings 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 valued at $15,014,000 after purchasing an additional 197,500 shares during the last quarter. Institutional investors and hedge funds own 5.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Scotiabank upped their target price on Telefônica Brasil from $9.20 to $10.40 and gave the company a “sector perform” rating in a report on Friday, September 20th. Barclays upped their target price on Telefônica Brasil from $11.00 to $11.50 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, StockNews.com raised Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Telefônica Brasil presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.97.

Telefônica Brasil Stock Performance

Shares of VIV stock opened at $8.98 on Tuesday. Telefônica Brasil S.A. has a 12-month low of $8.02 and a 12-month high of $11.43. The firm has a market capitalization of $14.94 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 0.89 and a beta of 0.81. The business has a 50 day simple moving average of $9.59 and a 200 day simple moving average of $9.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.91.

Telefônica Brasil (NYSE:VIV) last issued its quarterly earnings data on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the company posted $0.18 EPS. On average, equities research analysts anticipate that Telefônica Brasil S.A. will post 0.61 EPS for the current year.

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.