Altrinsic Global Advisors LLC Sells 44,668 Shares of Telefonica Brasil SA (NYSE:VIV)

Altrinsic Global Advisors LLC trimmed its holdings in Telefonica Brasil SA (NYSE:VIV) by 21.0% in the first quarter, Holdings Channel reports. The institutional investor owned 167,587 shares of the Wireless communications provider’s stock after selling 44,668 shares during the quarter. Altrinsic Global Advisors LLC’s holdings in Telefonica Brasil were worth $2,023,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Citigroup Inc. raised its position in shares of Telefonica Brasil by 14.7% in the first quarter. Citigroup Inc. now owns 7,194 shares of the Wireless communications provider’s stock valued at $87,000 after buying an additional 924 shares during the last quarter. Signaturefd LLC raised its position in shares of Telefonica Brasil by 8.2% in the first quarter. Signaturefd LLC now owns 12,844 shares of the Wireless communications provider’s stock valued at $155,000 after buying an additional 977 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Telefonica Brasil by 24.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,565 shares of the Wireless communications provider’s stock valued at $67,000 after buying an additional 1,103 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Telefonica Brasil by 4.2% in the first quarter. Janney Montgomery Scott LLC now owns 33,036 shares of the Wireless communications provider’s stock valued at $399,000 after buying an additional 1,329 shares during the last quarter. Finally, Icon Wealth Partners LLC raised its position in shares of Telefonica Brasil by 16.1% in the first quarter. Icon Wealth Partners LLC now owns 11,560 shares of the Wireless communications provider’s stock valued at $140,000 after buying an additional 1,601 shares during the last quarter. Institutional investors and hedge funds own 9.65% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Telefonica Brasil from a “hold” rating to a “strong sell” rating and set a $13.00 target price for the company. in a research report on Friday, June 7th. JPMorgan Chase & Co. upgraded shares of Telefonica Brasil from an “underweight” rating to a “neutral” rating in a research report on Tuesday, June 4th. ValuEngine upgraded shares of Telefonica Brasil from a “sell” rating to a “hold” rating in a research report on Saturday, June 1st. Finally, Barclays raised their price objective on shares of Telefonica Brasil from $13.50 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $13.63.

Telefonica Brasil stock opened at $12.77 on Wednesday. Telefonica Brasil SA has a 12-month low of $9.21 and a 12-month high of $13.60. The stock has a market cap of $21.45 billion, a P/E ratio of 9.19 and a beta of 0.70. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 0.16.

Telefonica Brasil (NYSE:VIV) last released its quarterly earnings data on Thursday, May 9th. The Wireless communications provider reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. Telefonica Brasil had a net margin of 21.05% and a return on equity of 10.59%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.82 billion. As a group, equities research analysts predict that Telefonica Brasil SA will post 0.89 earnings per share for the current year.

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About Telefonica Brasil

Telefônica Brasil SA 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, and 4.5G, as well as mobile value-added services and wireless roaming services.

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

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