Farther Finance Advisors LLC Raises Stake in Telefonica Brasil S.A. $VIV

Farther Finance Advisors LLC boosted its position in shares of Telefonica Brasil S.A. (NYSE:VIV) by 543.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,918 shares of the Wireless communications provider’s stock after acquiring an additional 4,154 shares during the period. Farther Finance Advisors LLC’s holdings in Telefonica Brasil were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Telefonica Brasil by 2,041.2% during the first quarter. GAMMA Investing LLC now owns 81,750 shares of the Wireless communications provider’s stock worth $713,000 after purchasing an additional 77,932 shares in the last quarter. Rhumbline Advisers lifted its holdings in Telefonica Brasil by 337.7% during the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 3,266 shares during the last quarter. Vest Financial LLC purchased a new stake in Telefonica Brasil during the 1st quarter worth about $96,000. Handelsbanken Fonder AB acquired a new position in shares of Telefonica Brasil during the 1st quarter worth about $795,000. Finally, Ritholtz Wealth Management increased its holdings in shares of Telefonica Brasil by 19.1% in the 1st quarter. Ritholtz Wealth Management now owns 83,867 shares of the Wireless communications provider’s stock valued at $731,000 after acquiring an additional 13,429 shares during the last quarter. 5.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Scotiabank boosted their price target on shares of Telefonica Brasil from $8.80 to $12.50 and gave the company a “sector perform” rating in a research report on Thursday, July 31st. Weiss Ratings restated a “hold (c+)” rating on shares of Telefonica Brasil in a research note on Saturday, September 27th. Wall Street Zen upgraded Telefonica Brasil from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Barclays restated an “overweight” rating and issued a $13.00 price objective (up previously from $12.50) on shares of Telefonica Brasil in a research report on Thursday, August 7th. Finally, Citigroup started coverage on shares of Telefonica Brasil in a research report on Wednesday, September 10th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.70.

Telefonica Brasil Price Performance

NYSE:VIV opened at $12.43 on Tuesday. Telefonica Brasil S.A. has a 12-month low of $7.47 and a 12-month high of $12.92. The firm has a market cap of $20.21 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 0.86 and a beta of 0.77. The company’s 50-day moving average is $12.31 and its two-hundred day moving average is $11.99. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20.

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). The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $14.48 billion. Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.32%. Research analysts expect that Telefonica Brasil S.A. will post 0.6 EPS for the current year.

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.