Ritholtz Wealth Management Purchases 8,015 Shares of Telefônica Brasil S.A. (NYSE:VIV)

Posted by Defense World Staff on Sep 30th, 2023

Ritholtz Wealth Management grew its position in Telefônica Brasil S.A. (NYSE:VIV – Free Report) by 60.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,351 shares of the Wireless communications provider’s stock after buying an additional 8,015 shares during the period. Ritholtz Wealth Management’s holdings in Telefônica Brasil were worth $195,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of VIV. Credit Suisse AG boosted its stake in Telefônica Brasil by 543.6% in the 3rd quarter. Credit Suisse AG now owns 7,485 shares of the Wireless communications provider’s stock worth $57,000 after purchasing an additional 6,322 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Telefônica Brasil in the 2nd quarter worth approximately $68,000. FMR LLC boosted its stake in Telefônica Brasil by 578.8% in the 1st quarter. FMR LLC now owns 9,863 shares of the Wireless communications provider’s stock worth $75,000 after purchasing an additional 8,410 shares in the last quarter. Atlas Capital Advisors LLC boosted its stake in Telefônica Brasil by 191.7% in the 2nd quarter. Atlas Capital Advisors LLC now owns 10,028 shares of the Wireless communications provider’s stock worth $102,000 after purchasing an additional 6,590 shares in the last quarter. Finally, Icon Wealth Partners LLC acquired a new stake in Telefônica Brasil in the 1st quarter worth approximately $80,000. 5.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VIV shares. Jefferies Financial Group started coverage on shares of Telefônica Brasil in a research report on Tuesday, September 19th. They set a “hold” rating for the company. StockNews.com lowered shares of Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 18th. Itau BBA Securities reissued an “outperform” rating and set a $11.00 price target on shares of Telefônica Brasil in a research report on Friday. Citigroup raised shares of Telefônica Brasil from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, The Goldman Sachs Group raised their price target on shares of Telefônica Brasil from $10.00 to $11.40 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.13.

Check Out Our Latest Stock Report on VIV

Telefônica Brasil Price Performance

NYSE:VIV opened at $8.55 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.87 and a quick ratio of 0.84. The firm has a market cap of $14.22 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 0.93 and a beta of 0.57. The company has a 50 day moving average price of $8.71 and a 200-day moving average price of $8.43. Telefônica Brasil S.A. has a 1-year low of $6.49 and a 1-year high of $9.31.

Telefônica Brasil (NYSE:VIV – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The Wireless communications provider reported $0.14 EPS for the quarter. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.53 billion. Telefônica Brasil had a net margin of 8.98% and a return on equity of 6.54%. Equities research analysts forecast that Telefônica Brasil S.A. will post 0.55 EPS for the current year.

Telefônica Brasil Cuts Dividend

The business also recently declared a — dividend, which was paid on Friday, September 1st. Investors of record on Friday, January 1st were issued a $0.0273 dividend. This represents a yield of 4.9%. The ex-dividend date of this dividend was Friday, September 1st. Telefônica Brasil’s payout ratio is presently 47.17%.

Telefônica Brasil Company Profile

(Free Report)

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.