State of New Jersey Common Pension Fund D continued to hold its stake in shares of Telefonica Brasil S.A. (NYSE:VIV) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 597,559 shares of the Wireless communications provider’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Telefonica Brasil were worth $8,061,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in shares of Telefonica Brasil by 60.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,194,876 shares of the Wireless communications provider’s stock valued at $47,443,000 after buying an additional 1,202,685 shares during the period. Tocqueville Asset Management L.P. bought a new stake in shares of Telefonica Brasil during the first quarter valued at about $10,637,000. Vanguard Group Inc. raised its stake in shares of Telefonica Brasil by 12.9% in the first quarter. Vanguard Group Inc. now owns 3,156,391 shares of the Wireless communications provider’s stock valued at $46,872,000 after buying an additional 360,266 shares during the period. Schafer Cullen Capital Management Inc. raised its stake in shares of Telefonica Brasil by 7.7% in the first quarter. Schafer Cullen Capital Management Inc. now owns 4,380,283 shares of the Wireless communications provider’s stock valued at $65,047,000 after buying an additional 313,836 shares during the period. Finally, Karp Capital Management Corp bought a new stake in shares of Telefonica Brasil during the first quarter valued at about $3,924,000. Institutional investors and hedge funds own 10.88% of the company’s stock.

Telefonica Brasil S.A. (VIV) opened at 14.98 on Friday. The firm has a market capitalization of $25.30 billion, a price-to-earnings ratio of 19.61 and a beta of 1.34. Telefonica Brasil S.A. has a 52-week low of $11.95 and a 52-week high of $15.69. The company’s 50-day moving average is $14.31 and its 200-day moving average is $14.58.

Telefonica Brasil (NYSE:VIV) last released its quarterly earnings results on Wednesday, July 26th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.06. Telefonica Brasil had a return on equity of 5.91% and a net margin of 9.41%. The firm had revenue of $3.33 billion for the quarter. Equities analysts predict that Telefonica Brasil S.A. will post $0.92 earnings per share for the current year.

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A number of equities analysts recently weighed in on the stock. BidaskClub lowered shares of Telefonica Brasil from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Royal Bank Of Canada set a $15.00 price target on shares of Telefonica Brasil and gave the stock a “hold” rating in a research report on Friday, July 28th. Finally, Zacks Investment Research lowered shares of Telefonica Brasil from a “buy” rating to a “hold” rating in a research report on Monday, May 8th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Telefonica Brasil currently has a consensus rating of “Buy” and a consensus price target of $15.50.

About Telefonica Brasil

Telefonica Brasil SA is a mobile telecommunications company in Brazil offering postpaid mobile services. The Company also operates as a fixed telecommunications company in the state of Sao Paulo. The Company markets its mobile services under its Vivo brand. It offers its clients a portfolio of products, including mobile and fixed voice, mobile data, fixed broadband, ultra-fast broadband, Pay television, information technology and digital services.

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

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