581,000 Shares in Telefônica Brasil S.A. (NYSE:VIV) Purchased by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. bought a new stake in shares of Telefônica Brasil S.A. (NYSE:VIV) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 581,000 shares of the Wireless communications provider’s stock, valued at approximately $5,967,000.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in Telefônica Brasil by 2,821.8% during the 2nd quarter. Blue Trust Inc. now owns 3,214 shares of the Wireless communications provider’s stock valued at $26,000 after buying an additional 3,104 shares in the last quarter. QRG Capital Management Inc. bought a new stake in Telefônica Brasil in the 2nd quarter valued at $83,000. B. Riley Wealth Advisors Inc. purchased a new stake in Telefônica Brasil in the 1st quarter worth $123,000. Aprio Wealth Management LLC bought a new position in shares of Telefônica Brasil during the 3rd quarter valued at about $134,000. Finally, Simplicity Wealth LLC grew its position in shares of Telefônica Brasil by 22.2% during the second quarter. Simplicity Wealth LLC now owns 18,459 shares of the Wireless communications provider’s stock valued at $152,000 after purchasing an additional 3,358 shares in the last quarter. Hedge funds and other institutional investors own 5.16% of the company’s stock.

Telefônica Brasil Stock Performance

Shares of VIV opened at $8.21 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.91. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.79 and a beta of 0.78. The company has a 50-day moving average of $9.34 and a 200 day moving average of $9.08. Telefônica Brasil S.A. has a 1-year low of $8.01 and a 1-year high of $11.43.

Telefônica Brasil (NYSE:VIV) last announced its quarterly earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.15 by $0.03. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the firm posted $0.18 earnings per share. On average, research analysts expect that Telefônica Brasil S.A. will post 0.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on VIV shares. StockNews.com raised shares of Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Scotiabank upped their price objective on Telefônica Brasil from $9.20 to $10.40 and gave the company a “sector perform” rating in a research report on Friday, September 20th. Finally, Barclays boosted their target price on Telefônica Brasil from $11.50 to $11.80 and gave the company an “equal weight” rating in a research report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.07.

Telefônica Brasil Company Profile

Telefônica Brasil SA, together with its subsidiaries, operates as a mobile telecommunications company in Brazil. Its fixed line services portfolio includes local, domestic long-distance, and international long-distance calls; and mobile portfolio comprises voice and broadband internet access through 3G, 4G, 4.5G, and 5G, as well as mobile value-added and wireless roaming services.