Telefonica Brasil SA (VIV) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in shares of Telefonica Brasil SA (NYSE:VIV) by 91.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,930 shares of the Wireless communications provider’s stock after selling 1,160,070 shares during the period. JPMorgan Chase & Co.’s holdings in Telefonica Brasil were worth $1,807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of VIV. Artisan Partners Limited Partnership raised its holdings in Telefonica Brasil by 4.5% during the second quarter. Artisan Partners Limited Partnership now owns 74,619,075 shares of the Wireless communications provider’s stock worth $1,006,611,000 after purchasing an additional 3,236,064 shares in the last quarter. Schafer Cullen Capital Management Inc. raised its holdings in Telefonica Brasil by 6.8% during the second quarter. Schafer Cullen Capital Management Inc. now owns 4,679,431 shares of the Wireless communications provider’s stock worth $63,126,000 after purchasing an additional 299,148 shares in the last quarter. Vanguard Group Inc. raised its holdings in Telefonica Brasil by 10.8% during the second quarter. Vanguard Group Inc. now owns 3,497,039 shares of the Wireless communications provider’s stock worth $47,175,000 after purchasing an additional 340,648 shares in the last quarter. Kempen Capital Management N.V. raised its holdings in Telefonica Brasil by 1.5% during the second quarter. Kempen Capital Management N.V. now owns 1,742,574 shares of the Wireless communications provider’s stock worth $23,508,000 after purchasing an additional 25,400 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Telefonica Brasil by 23.5% during the third quarter. Russell Investments Group Ltd. now owns 1,672,969 shares of the Wireless communications provider’s stock worth $26,495,000 after purchasing an additional 318,862 shares in the last quarter. Institutional investors and hedge funds own 9.34% of the company’s stock.

Telefonica Brasil SA (NYSE VIV) traded up $0.29 during trading on Wednesday, hitting $16.96. 1,478,032 shares of the stock traded hands, compared to its average volume of 1,330,182. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 0.96. Telefonica Brasil SA has a fifty-two week low of $13.06 and a fifty-two week high of $17.05. The stock has a market cap of $28,167.42, a PE ratio of 21.20, a P/E/G ratio of 1.23 and a beta of 1.36.

Several research analysts have issued reports on the company. Zacks Investment Research cut Telefonica Brasil from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a report on Sunday, January 21st. Barclays upped their price target on Telefonica Brasil from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Monday, October 16th. Royal Bank of Canada reissued a “hold” rating and set a $15.60 target price on shares of Telefonica Brasil in a research note on Thursday, November 2nd. Credit Suisse Group downgraded shares of Telefonica Brasil from an “outperform” rating to a “neutral” rating in a research note on Friday, January 19th. Finally, Santander downgraded shares of Telefonica Brasil from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. Five 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 has an average rating of “Hold” and an average target price of $16.53.

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Telefonica Brasil Company Profile

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.

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

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