Telefônica Brasil (NYSE:VIV) Sets New 52-Week High at $10.57

Telefônica Brasil S.A. (NYSE:VIV) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $10.57 and last traded at $10.54, with a volume of 172771 shares changing hands. The stock had previously closed at $10.28.

Analysts Set New Price Targets

Several brokerages have issued reports on VIV. Itau BBA Securities reissued an “outperform” rating and issued a $11.00 price objective on shares of Telefônica Brasil in a research note on Friday, September 29th. Citigroup raised shares of Telefônica Brasil from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. TheStreet raised shares of Telefônica Brasil from a “d+” rating to a “c-” rating in a research note on Tuesday, November 7th. Jefferies Financial Group began coverage on shares of Telefônica Brasil in a research note on Tuesday, September 19th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group upped their price target on shares of Telefônica Brasil from $10.00 to $11.40 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.13.

Telefônica Brasil Stock Up 2.2 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.88 and a current ratio of 0.92. The firm’s 50-day moving average is $9.03 and its 200 day moving average is $8.76. The firm has a market capitalization of $17.48 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.00 and a beta of 0.66.

Telefônica Brasil Cuts Dividend

The firm also recently disclosed a — dividend, which was paid on Friday, September 1st. Investors of record on Friday, January 1st were given a $0.0273 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a dividend yield of 4.9%. Telefônica Brasil’s dividend payout ratio is presently 32.73%.

Institutional Investors Weigh In On Telefônica Brasil

Several institutional investors and hedge funds have recently made changes to their positions in VIV. Advisor Group Holdings Inc. lifted its holdings in Telefônica Brasil by 20.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 18,222 shares of the Wireless communications provider’s stock valued at $239,000 after purchasing an additional 3,127 shares in the last quarter. Raymond James & Associates lifted its holdings in Telefônica Brasil by 40.8% in the 1st quarter. Raymond James & Associates now owns 111,375 shares of the Wireless communications provider’s stock valued at $1,253,000 after purchasing an additional 32,301 shares in the last quarter. American Century Companies Inc. lifted its holdings in Telefônica Brasil by 12.2% in the 1st quarter. American Century Companies Inc. now owns 42,076 shares of the Wireless communications provider’s stock valued at $473,000 after purchasing an additional 4,571 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Telefônica Brasil by 17.9% in the 1st quarter. HighTower Advisors LLC now owns 12,097 shares of the Wireless communications provider’s stock valued at $136,000 after purchasing an additional 1,839 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Telefônica Brasil by 3.3% in the 1st quarter. BlackRock Inc. now owns 3,227,500 shares of the Wireless communications provider’s stock valued at $36,309,000 after purchasing an additional 103,931 shares in the last quarter. 5.40% of the stock is currently owned by hedge funds and other institutional investors.

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.