Itau Unibanco Holding S.A. cut its stake in shares of Telefonica Brasil SA (NYSE:VIV) by 22.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 429,200 shares of the Wireless communications provider’s stock after selling 126,700 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Telefonica Brasil were worth $6,365,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Artisan Partners Limited Partnership increased its holdings in Telefonica Brasil by 1.5% during the third quarter. Artisan Partners Limited Partnership now owns 75,701,846 shares of the Wireless communications provider’s stock valued at $1,199,117,000 after buying an additional 1,082,771 shares during the period. BlackRock Inc. increased its holdings in Telefonica Brasil by 27.3% during the fourth quarter. BlackRock Inc. now owns 2,501,664 shares of the Wireless communications provider’s stock valued at $37,101,000 after buying an additional 536,913 shares during the period. Vanguard Group Inc. increased its holdings in Telefonica Brasil by 10.8% during the second quarter. Vanguard Group Inc. now owns 3,497,039 shares of the Wireless communications provider’s stock valued at $47,175,000 after buying an additional 340,648 shares during the period. Russell Investments Group Ltd. increased its holdings in Telefonica Brasil by 23.5% during the third quarter. Russell Investments Group Ltd. now owns 1,672,969 shares of the Wireless communications provider’s stock valued at $26,495,000 after buying an additional 318,862 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in Telefonica Brasil during the third quarter valued at approximately $4,359,000. 9.32% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on VIV shares. Barclays lifted their price objective on shares of Telefonica Brasil from $17.00 to $17.50 and gave the company an “overweight” rating in a report on Thursday, October 26th. Royal Bank of Canada reissued a “hold” rating and set a $15.60 price objective on shares of Telefonica Brasil in a report on Thursday, November 2nd. Santander lowered shares of Telefonica Brasil from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. Zacks Investment Research raised shares of Telefonica Brasil from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Saturday, January 13th. Finally, Credit Suisse Group lowered shares of Telefonica Brasil from an “outperform” rating to a “neutral” rating in a report on Friday, January 19th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $16.53.
Telefonica Brasil SA (VIV) opened at $16.45 on Friday. The stock has a market cap of $27,779.02, a P/E ratio of 20.56, a P/E/G ratio of 1.19 and a beta of 1.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.94 and a current ratio of 0.96. Telefonica Brasil SA has a 1-year low of $13.06 and a 1-year high of $17.33.
TRADEMARK VIOLATION WARNING: This article was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be viewed at https://ledgergazette.com/2018/02/18/itau-unibanco-holding-s-a-trims-stake-in-telefonica-brasil-sa-viv.html.
Telefonica Brasil 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. 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.
Want to see what other hedge funds are holding VIV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Telefonica Brasil SA (NYSE:VIV).
Receive News & Ratings for Telefonica Brasil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telefonica Brasil and related companies with MarketBeat.com's FREE daily email newsletter.