Telefonica Brasil SA (NYSE:VIV) traded down 2.3% during mid-day trading on Wednesday . The stock traded as low as $12.95 and last traded at $13.12, with a volume of 1,223,893 shares changing hands. The stock had previously closed at $13.43.

Several equities research analysts have issued reports on the company. Morgan Stanley downgraded Telefonica Brasil SA from an “overweight” rating to an “equal weight” rating in a report on Wednesday. Zacks Investment Research raised Telefonica Brasil SA from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Monday. Goldman Sachs Group Inc. reaffirmed a “neutral” rating on shares of Telefonica Brasil SA in a report on Tuesday, June 28th. Credit Suisse Group AG downgraded Telefonica Brasil SA from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 25th. Finally, Barclays PLC raised their price target on Telefonica Brasil SA from $11.50 to $15.00 in a report on Friday, April 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $13.40.

The stock has a market capitalization of $23.49 billion and a P/E ratio of 18.14. The firm has a 50 day moving average price of $12.17 and a 200-day moving average price of $10.89.

A number of large investors recently made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of Telefonica Brasil SA by 23.9% in the fourth quarter. First Trust Advisors LP now owns 1,054,749 shares of the company’s stock valued at $9,524,000 after buying an additional 203,291 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Telefonica Brasil SA by 74.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 213,460 shares of the company’s stock valued at $1,928,000 after buying an additional 90,800 shares during the period. BARING ASSET MANAGEMENT Ltd bought a new stake in shares of Telefonica Brasil SA during the fourth quarter valued at about $1,122,000. Pzena Investment Management LLC increased its stake in shares of Telefonica Brasil SA by 14.4% in the fourth quarter. Pzena Investment Management LLC now owns 4,484,102 shares of the company’s stock valued at $40,491,000 after buying an additional 565,830 shares during the period. Finally, Boston Partners increased its stake in shares of Telefonica Brasil SA by 9.2% in the fourth quarter. Boston Partners now owns 237,193 shares of the company’s stock valued at $2,142,000 after buying an additional 20,000 shares during the period.

Telefonica Brasil SA is a mobile telecommunications company in Brazil. The Company is 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 (UBB) (based on its Fiber to the Home infrastructure (FTTH)), Pay TV, information technology and digital services (such as e-health, cloud and financial services).

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