Acadian Asset Management LLC reduced its stake in shares of Telefonica Brasil S.A. (NYSE:VIV) by 53.4% during the second quarter, Holdings Channel reports. The firm owned 120,564 shares of the Wireless communications provider’s stock after selling 138,261 shares during the period. Acadian Asset Management LLC’s holdings in Telefonica Brasil were worth $1,626,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in VIV. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Telefonica Brasil by 2.1% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,604 shares of the Wireless communications provider’s stock valued at $143,000 after buying an additional 200 shares during the period. Princeton Alpha Management LP bought a new position in shares of Telefonica Brasil during the first quarter valued at $158,000. GRATRY & Co LLC boosted its position in shares of Telefonica Brasil by 1.1% in the first quarter. GRATRY & Co LLC now owns 11,352 shares of the Wireless communications provider’s stock valued at $169,000 after buying an additional 125 shares during the period. AXA bought a new position in shares of Telefonica Brasil during the first quarter valued at $177,000. Finally, Sei Investments Co. boosted its position in shares of Telefonica Brasil by 9.2% in the first quarter. Sei Investments Co. now owns 15,340 shares of the Wireless communications provider’s stock valued at $228,000 after buying an additional 1,287 shares during the period. Institutional investors own 10.88% of the company’s stock.

Telefonica Brasil S.A. (NYSE:VIV) traded down 0.72% during trading on Wednesday, reaching $15.21. The company had a trading volume of 320,053 shares. The firm’s 50-day moving average price is $14.14 and its 200 day moving average price is $14.55. Telefonica Brasil S.A. has a one year low of $11.95 and a one year high of $15.69. The firm has a market capitalization of $25.69 billion, a P/E ratio of 20.81 and a beta of 1.34.

Telefonica Brasil (NYSE:VIV) last announced its earnings results on Wednesday, July 26th. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.06. Telefonica Brasil had a net margin of 9.41% and a return on equity of 5.91%. The business had revenue of $3.33 billion for the quarter. Equities analysts forecast that Telefonica Brasil S.A. will post $0.92 earnings per share for the current fiscal year.

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VIV has been the subject of several recent research reports. Zacks Investment Research upgraded Telefonica Brasil from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Wednesday, May 31st. Royal Bank Of Canada set a $15.00 target price on Telefonica Brasil and gave the stock a “hold” rating in a research report on Friday, July 28th. Finally, BidaskClub cut Telefonica Brasil from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $15.50.

About Telefonica Brasil

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. 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, Pay television, information technology and digital services.

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

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