Telefônica Brasil S.A. (NYSE:VIV) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its holdings in Telefônica Brasil S.A. (NYSE:VIV) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,489 shares of the Wireless communications provider’s stock after selling 1,346 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Telefônica Brasil were worth $334,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in VIV. Campbell & CO Investment Adviser LLC purchased a new position in Telefônica Brasil in the third quarter worth approximately $96,000. Euro Pacific Asset Management LLC grew its position in Telefônica Brasil by 10.0% in the third quarter. Euro Pacific Asset Management LLC now owns 12,257 shares of the Wireless communications provider’s stock worth $108,000 after acquiring an additional 1,113 shares during the period. Acadian Asset Management LLC purchased a new position in Telefônica Brasil in the third quarter worth approximately $115,000. Aprio Wealth Management LLC purchased a new position in Telefônica Brasil in the fourth quarter worth approximately $143,000. Finally, Ballentine Partners LLC purchased a new position in Telefônica Brasil in the fourth quarter worth approximately $147,000. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Barclays lowered their price objective on Telefônica Brasil from $13.50 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. StockNews.com upgraded Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 20th. Finally, Morgan Stanley restated an “equal weight” rating and set a $11.00 price target on shares of Telefônica Brasil in a research report on Friday, January 5th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Telefônica Brasil currently has an average rating of “Moderate Buy” and an average target price of $11.60.

Telefônica Brasil Trading Up 1.2 %

NYSE:VIV opened at $9.41 on Friday. The firm has a market cap of $15.65 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 0.72 and a beta of 0.75. The stock has a fifty day moving average price of $10.20 and a 200 day moving average price of $10.24. Telefônica Brasil S.A. has a 12-month low of $7.87 and a 12-month high of $11.43. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20.

Telefônica Brasil (NYSE:VIV) last released its earnings results on Tuesday, February 20th. The Wireless communications provider reported $0.20 earnings per share (EPS) for the quarter. The firm had revenue of $2.73 billion during the quarter. Telefônica Brasil had a return on equity of 7.33% and a net margin of 9.70%. Sell-side analysts anticipate that Telefônica Brasil S.A. will post 0.7 earnings per share for the current fiscal year.

Telefônica Brasil Cuts Dividend

The business also recently announced a — dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, January 1st will be issued a $0.0373 dividend. The ex-dividend date is Tuesday, April 30th. This represents a yield of 4.7%. Telefônica Brasil’s dividend payout ratio (DPR) is presently 41.94%.

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.