AdvisorShares Investments LLC Purchases New Holdings in Telefonica Brasil S.A. $VIV

AdvisorShares Investments LLC acquired a new position in shares of Telefonica Brasil S.A. (NYSE:VIV) in the 3rd quarter, HoldingsChannel reports. The firm acquired 83,640 shares of the Wireless communications provider’s stock, valued at approximately $1,066,000.

A number of other hedge funds have also made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of Telefonica Brasil by 30.3% in the first quarter. Royal Bank of Canada now owns 431,051 shares of the Wireless communications provider’s stock worth $3,758,000 after acquiring an additional 100,315 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in Telefonica Brasil in the 1st quarter valued at $52,000. Rhumbline Advisers lifted its holdings in Telefonica Brasil by 337.7% in the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 3,266 shares in the last quarter. Truist Financial Corp boosted its stake in Telefonica Brasil by 41.6% during the 2nd quarter. Truist Financial Corp now owns 59,465 shares of the Wireless communications provider’s stock worth $678,000 after purchasing an additional 17,479 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Telefonica Brasil by 8.2% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,383 shares of the Wireless communications provider’s stock worth $244,000 after purchasing an additional 1,623 shares during the last quarter. Institutional investors and hedge funds own 5.16% of the company’s stock.

Telefonica Brasil Stock Up 1.4%

VIV stock opened at $14.91 on Friday. The firm has a market cap of $24.25 billion, a PE ratio of 22.59, a PEG ratio of 0.90 and a beta of 0.71. Telefonica Brasil S.A. has a one year low of $8.09 and a one year high of $14.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 1.02. The firm’s 50 day moving average price is $12.72 and its 200-day moving average price is $12.48.

Telefonica Brasil (NYSE:VIV) last posted its earnings results on Friday, November 14th. The Wireless communications provider reported $0.11 EPS for the quarter. Telefonica Brasil had a return on equity of 8.67% and a net margin of 10.37%.The company had revenue of $2.81 billion for the quarter. On average, equities research analysts anticipate that Telefonica Brasil S.A. will post 0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

VIV has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 11th. Barclays reaffirmed an “overweight” rating and set a $14.50 price objective on shares of Telefonica Brasil in a research note on Monday, November 3rd. Weiss Ratings raised shares of Telefonica Brasil from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, January 23rd. Finally, Bank of America started coverage on Telefonica Brasil in a research report on Thursday, December 11th. They issued an “underperform” rating and a $14.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.12.

Telefonica Brasil Profile

Telefônica Brasil SA, commonly marketed under the Vivo brand, is one of Brazil’s largest telecommunications providers, offering a broad range of consumer and enterprise communications services. The company’s core activities include mobile voice and data services, fixed-line telephony, broadband internet (including fiber-to-the-home), and pay-TV solutions. It also provides ICT and managed services for business customers, such as cloud, data center, connectivity, Internet of Things (IoT) and security solutions.

Vivo operates a nationwide network across Brazil and serves both individual consumers and corporate clients.