Telefonica Brasil (NYSE:VIV) Upgraded at Bank of America

Bank of America upgraded shares of Telefonica Brasil (NYSE:VIV) from an underperform rating to a neutral rating in a research note issued to investors on Tuesday, MarketBeat reports.

Other research analysts have also recently issued reports about the stock. Barclays set a $16.00 target price on shares of Telefonica Brasil in a report on Wednesday, July 29th. Morgan Stanley set a $14.00 price target on Telefonica Brasil in a research note on Thursday, August 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Telefonica Brasil in a research report on Friday, October 2nd. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $14.66.

Telefonica Brasil Trading Down 0.5%

VIV stock opened at $12.26 on Tuesday. Telefonica Brasil has a 52 week low of $11.17 and a 52 week high of $17.25. The company has a market capitalization of $19.93 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52. The company’s 50-day simple moving average is $11.78 and its 200 day simple moving average is $13.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 0.95.

Telefonica Brasil (NYSE:VIV) last issued its quarterly earnings data on Thursday, July 23rd. The Wireless communications provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. Telefonica Brasil had a return on equity of 9.72% and a net margin of 10.64%. As a group, sell-side analysts anticipate that Telefonica Brasil will post 0.95 earnings per share for the current year.

Telefonica Brasil Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, July 21st. Investors of record on Friday, May 22nd were given a dividend of $0.4562 per share. The ex-dividend date of this dividend was Friday, May 22nd. Telefonica Brasil’s dividend payout ratio is currently 76.92%.

Institutional Investors Weigh In On Telefonica Brasil

Large investors have recently bought and sold shares of the company. QRG Capital Management Inc. bought a new position in Telefonica Brasil in the 2nd quarter valued at about $181,000. Tidal Investments LLC boosted its position in shares of Telefonica Brasil by 54.5% during the 2nd quarter. Tidal Investments LLC now owns 477,011 shares of the Wireless communications provider’s stock worth $6,277,000 after acquiring an additional 168,185 shares in the last quarter. Allworth Financial LP boosted its position in shares of Telefonica Brasil by 74.6% during the 2nd quarter. Allworth Financial LP now owns 4,547 shares of the Wireless communications provider’s stock worth $60,000 after acquiring an additional 1,943 shares in the last quarter. Nykredit A S acquired a new stake in shares of Telefonica Brasil during the 2nd quarter worth approximately $625,000. Finally, B. Metzler seel. Sohn & Co. AG increased its stake in Telefonica Brasil by 286.3% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 140,456 shares of the Wireless communications provider’s stock valued at $1,848,000 after acquiring an additional 104,100 shares during the last quarter. 5.16% of the stock is currently owned by institutional investors and hedge funds.

About Telefonica Brasil

Telefônica Brasil SA, operating under the Vivo brand, is a telecommunications company serving consumers, businesses and public-sector organizations throughout Brazil. The company provides mobile voice and data services, wireless connectivity and related digital communications solutions.

Its fixed-line business includes broadband internet delivered primarily through fiber-optic networks, as well as voice and other connectivity services. Telefônica Brasil also offers information technology, cloud, cybersecurity, Internet of Things and managed communications solutions to corporate and institutional customers.