Waterfront Wealth Inc. Sells 48,075 Shares of Telefonica Brasil S.A. $VIV

Waterfront Wealth Inc. decreased its holdings in shares of Telefonica Brasil S.A. (NYSE:VIV) by 26.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,475 shares of the Wireless communications provider’s stock after selling 48,075 shares during the period. Waterfront Wealth Inc.’s holdings in Telefonica Brasil were worth $1,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SBI Securities Co. Ltd. raised its position in Telefonica Brasil by 39.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 3,783 shares of the Wireless communications provider’s stock valued at $33,000 after purchasing an additional 1,067 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Telefonica Brasil by 2.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 40,454 shares of the Wireless communications provider’s stock valued at $461,000 after purchasing an additional 1,109 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Telefonica Brasil by 8.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,383 shares of the Wireless communications provider’s stock valued at $244,000 after purchasing an additional 1,623 shares in the last quarter. Bessemer Group Inc. grew its stake in Telefonica Brasil by 8.8% in the first quarter. Bessemer Group Inc. now owns 28,546 shares of the Wireless communications provider’s stock worth $249,000 after purchasing an additional 2,301 shares during the period. Finally, Kathmere Capital Management LLC grew its stake in Telefonica Brasil by 7.7% in the first quarter. Kathmere Capital Management LLC now owns 35,852 shares of the Wireless communications provider’s stock worth $313,000 after purchasing an additional 2,576 shares during the period. Institutional investors own 5.16% of the company’s stock.

Telefonica Brasil Stock Down 0.3%

VIV stock opened at $12.85 on Wednesday. Telefonica Brasil S.A. has a twelve month low of $7.47 and a twelve month high of $12.97. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. The firm has a market cap of $20.89 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 0.88 and a beta of 0.77. The business has a 50 day moving average of $12.40 and a 200 day moving average of $11.41.

Telefonica Brasil (NYSE:VIV) last posted its quarterly earnings data on Monday, July 28th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.32%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $14.48 billion. On average, research analysts forecast that Telefonica Brasil S.A. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VIV has been the subject of several recent research reports. Morgan Stanley set a $12.00 price objective on Telefonica Brasil in a research report on Wednesday, October 8th. Zacks Research lowered shares of Telefonica Brasil from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 22nd. Weiss Ratings lowered shares of Telefonica Brasil from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. The Goldman Sachs Group increased their price target on shares of Telefonica Brasil from $11.40 to $12.60 and gave the stock a “buy” rating in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Telefonica Brasil in a research note on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.53.

About Telefonica Brasil

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.