Telefonica Brasil SA (VIV) Stake Lowered by Advisors Asset Management Inc.
Advisors Asset Management Inc. reduced its position in Telefonica Brasil SA (NYSE:VIV) by 10.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,242 shares of the company’s stock after selling 1,622 shares during the period. Advisors Asset Management Inc.’s holdings in Telefonica Brasil SA were worth $194,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. M&T Bank Corp increased its stake in Telefonica Brasil SA by 4.9% in the first quarter. M&T Bank Corp now owns 14,854 shares of the company’s stock worth $185,000 after buying an additional 700 shares during the last quarter. Prudential Financial Inc. increased its stake in Telefonica Brasil SA by 27.9% in the first quarter. Prudential Financial Inc. now owns 26,621 shares of the company’s stock worth $332,000 after buying an additional 5,800 shares during the last quarter. DNB Asset Management AS purchased a new stake in Telefonica Brasil SA during the second quarter worth $356,000. Alps Advisors Inc. increased its stake in Telefonica Brasil SA by 39.9% in the second quarter. Alps Advisors Inc. now owns 26,285 shares of the company’s stock worth $357,000 after buying an additional 7,500 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Telefonica Brasil SA by 102.6% in the second quarter. Nordea Investment Management AB now owns 30,586 shares of the company’s stock worth $416,000 after buying an additional 15,486 shares during the last quarter. Institutional investors own 10.28% of the company’s stock.
Telefonica Brasil SA (NYSE:VIV) traded up 1.82% on Wednesday, hitting $14.56. The stock had a trading volume of 405,667 shares. The firm has a market cap of $24.59 billion, a price-to-earnings ratio of 20.48 and a beta of 1.53. The company’s 50 day moving average price is $14.71 and its 200 day moving average price is $13.27. Telefonica Brasil SA has a 52-week low of $7.72 and a 52-week high of $15.69.
The company also recently disclosed a dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, October 5th will be given a $0.104 dividend. The ex-dividend date of this dividend is Monday, October 3rd. Telefonica Brasil SA’s dividend payout ratio (DPR) is currently 90.48%.
A number of research firms have weighed in on VIV. Zacks Investment Research downgraded Telefonica Brasil SA from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Barclays PLC raised their price target on Telefonica Brasil SA from $17.00 to $17.50 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Morgan Stanley downgraded Telefonica Brasil SA from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 6th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating on shares of Telefonica Brasil SA in a research report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Telefonica Brasil SA presently has a consensus rating of “Hold” and an average price target of $14.83.
Telefonica Brasil SA 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. 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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