Telefônica Brasil (NYSE:VIV) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Telefônica Brasil (NYSE:VIV) from a buy rating to a strong-buy rating in a research report released on Monday.

Other analysts have also recently issued reports about the stock. Morgan Stanley raised shares of Telefônica Brasil from an equal weight rating to an overweight rating in a research note on Thursday, July 11th. Barclays increased their price target on Telefônica Brasil from $11.00 to $11.50 and gave the stock an equal weight rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $11.17.

Telefônica Brasil Price Performance

Shares of VIV opened at $9.72 on Monday. The firm has a fifty day simple moving average of $9.12 and a two-hundred day simple moving average of $9.29. The firm has a market cap of $16.17 billion, a PE ratio of 15.43, a P/E/G ratio of 0.97 and a beta of 0.79. The company has a current ratio of 1.03, a quick ratio of 0.98 and a debt-to-equity ratio of 0.21. Telefônica Brasil has a 1-year low of $8.02 and a 1-year high of $11.43.

Telefônica Brasil (NYSE:VIV) last posted its quarterly earnings data on Monday, July 29th. The Wireless communications provider reported $0.14 EPS for the quarter, meeting analysts’ consensus estimates of $0.14. Telefônica Brasil had a return on equity of 7.53% and a net margin of 9.65%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the prior year, the business earned $0.14 earnings per share. On average, equities analysts anticipate that Telefônica Brasil will post 0.61 EPS for the current year.

Telefônica Brasil Cuts Dividend

The business also recently announced a — dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 27th were paid a dividend of $0.0379 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a yield of 3.2%. Telefônica Brasil’s payout ratio is 49.21%.

Institutional Trading of Telefônica Brasil

Several hedge funds have recently bought and sold shares of the stock. Brandes Investment Partners LP grew its position 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 in the last quarter. Goldman Sachs Group Inc. increased its stake in Telefônica Brasil by 165.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,856,545 shares of the Wireless communications provider’s stock worth $20,311,000 after acquiring an additional 1,157,304 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Telefônica Brasil by 12.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,828,800 shares of the Wireless communications provider’s stock worth $15,014,000 after acquiring an additional 197,500 shares in the last quarter. Pinebridge Investments L.P. boosted its position in shares of Telefônica Brasil by 82.7% during the 4th quarter. Pinebridge Investments L.P. now owns 1,601,608 shares of the Wireless communications provider’s stock valued at $17,517,000 after acquiring an additional 725,072 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Telefônica Brasil by 6.3% in the first quarter. Vanguard Group Inc. now owns 1,222,562 shares of the Wireless communications provider’s stock valued at $12,311,000 after purchasing an additional 72,388 shares in the last quarter. Hedge funds and other institutional investors own 5.16% of the company’s stock.

About Telefônica 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.