Shares of Telefonica Brasil SA (NYSE:VIV) traded down 2.3% during mid-day trading on Friday . The company traded as low as $14.50 and last traded at $14.56, with a volume of 883,276 shares trading hands. The stock had previously closed at $14.91.

A number of analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Telefonica Brasil SA from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays PLC lifted their price target on shares of Telefonica Brasil SA from $17.00 to $17.50 and gave the company an “overweight” rating in a report on Thursday, July 28th. Morgan Stanley downgraded shares of Telefonica Brasil SA from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 6th. Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Telefonica Brasil SA in a report on Tuesday, June 28th. Finally, Credit Suisse Group AG downgraded shares of Telefonica Brasil SA from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $13.90.

The firm has a market cap of $24.84 billion and a PE ratio of 20.89. The firm has a 50 day moving average price of $13.79 and a 200-day moving average price of $11.70.

A number of hedge funds have recently made changes to their positions in the company. Employees Retirement System of Texas purchased a new stake in shares of Telefonica Brasil SA during the fourth quarter worth about $6,993,000. State of New Jersey Common Pension Fund D increased its stake in shares of Telefonica Brasil SA by 16.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 567,300 shares of the company’s stock worth $5,123,000 after buying an additional 82,100 shares during the period. Bank of Montreal Can increased its stake in shares of Telefonica Brasil SA by 275.1% in the fourth quarter. Bank of Montreal Can now owns 379,567 shares of the company’s stock worth $3,427,000 after buying an additional 278,385 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 worth $2,142,000 after buying an additional 20,000 shares during the period.

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. It offers its clients a portfolio of products, including mobile and fixed voice, mobile data, fixed broadband, ultra-fast broadband (UBB), Pay television, information technology and digital services (such as e-health, cloud and financial services).

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