Telefônica Brasil S.A. (NYSE:VIV) Shares Bought by Truist Financial Corp

Truist Financial Corp grew its stake in shares of Telefônica Brasil S.A. (NYSE:VIVGet Rating) by 29.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,334 shares of the Wireless communications provider’s stock after purchasing an additional 13,092 shares during the quarter. Truist Financial Corp’s holdings in Telefônica Brasil were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VIV. Advisor Group Holdings Inc. grew its position in shares of Telefônica Brasil by 20.7% during the first quarter. Advisor Group Holdings Inc. now owns 18,222 shares of the Wireless communications provider’s stock worth $239,000 after acquiring an additional 3,127 shares during the last quarter. Raymond James & Associates grew its position in shares of Telefônica Brasil by 40.8% during the first quarter. Raymond James & Associates now owns 111,375 shares of the Wireless communications provider’s stock worth $1,253,000 after acquiring an additional 32,301 shares during the last quarter. American Century Companies Inc. grew its position in shares of Telefônica Brasil by 12.2% during the first quarter. American Century Companies Inc. now owns 42,076 shares of the Wireless communications provider’s stock worth $473,000 after acquiring an additional 4,571 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Telefônica Brasil by 17.9% during the first quarter. HighTower Advisors LLC now owns 12,097 shares of the Wireless communications provider’s stock worth $136,000 after acquiring an additional 1,839 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Telefônica Brasil by 3.3% during the first quarter. BlackRock Inc. now owns 3,227,500 shares of the Wireless communications provider’s stock worth $36,309,000 after acquiring an additional 103,931 shares during the last quarter. Institutional investors and hedge funds own 6.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on VIV shares. StockNews.com lowered shares of Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 13th. Barclays lowered their price objective on shares of Telefônica Brasil from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Telefônica Brasil currently has a consensus rating of “Hold” and a consensus price target of $25.67.

Telefônica Brasil Price Performance

Telefônica Brasil stock opened at $7.81 on Wednesday. Telefônica Brasil S.A. has a one year low of $6.49 and a one year high of $11.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.85. The business has a fifty day moving average of $7.26 and a two-hundred day moving average of $7.86. The company has a market cap of $13.10 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 1.99 and a beta of 0.47.

Telefônica Brasil (NYSE:VIVGet Rating) last released its earnings results on Wednesday, October 26th. The Wireless communications provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.24 billion. Telefônica Brasil had a return on equity of 7.82% and a net margin of 11.64%. As a group, analysts predict that Telefônica Brasil S.A. will post 0.46 earnings per share for the current fiscal year.

About Telefônica Brasil

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Telefônica Brasil SA, together with its subsidiaries, provides mobile and fixed telecommunications services to residential and corporate customers 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 services and wireless roaming services.

Further Reading

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Institutional Ownership by Quarter for Telefônica Brasil (NYSE:VIV)

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