Shares of Telefonica Brasil SA (NYSE:VIV) gapped down before the market opened on Thursday . The stock had previously closed at $14.57, but opened at $14.63. Telefonica Brasil SA shares last traded at $14.78, with a volume of 1,554,311 shares trading hands.

Several analysts recently issued reports on VIV shares. Zacks Investment Research raised Telefonica Brasil SA from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Tuesday, April 26th. Credit Suisse Group AG downgraded Telefonica Brasil SA from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 25th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating on shares of Telefonica Brasil SA in a research note on Tuesday, June 28th. Morgan Stanley downgraded Telefonica Brasil SA from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 6th. Finally, Barclays PLC lifted their price objective on Telefonica Brasil SA from $17.00 to $17.50 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $13.90.

The company has a market cap of $25.33 billion and a PE ratio of 20.44. The firm’s 50-day moving average is $14.38 and its 200-day moving average is $12.11.

Several hedge funds recently modified their holdings of VIV. 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 last quarter. 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 last quarter. Finally, Employees Retirement System of Texas bought a new stake in shares of Telefonica Brasil SA during the fourth quarter worth approximately $6,993,000.

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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