TrueMark Investments LLC Makes New Investment in Telefonica Brasil S.A. $VIV

TrueMark Investments LLC purchased a new stake in shares of Telefonica Brasil S.A. (NYSE:VIV) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 267,445 shares of the Wireless communications provider’s stock, valued at approximately $4,255,000.

Several other institutional investors have also recently made changes to their positions in the business. Rhumbline Advisers grew its position in Telefonica Brasil by 337.7% during the first quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 3,266 shares during the period. Arax Advisory Partners raised its position in Telefonica Brasil by 54.4% in the fourth quarter. Arax Advisory Partners now owns 3,773 shares of the Wireless communications provider’s stock worth $45,000 after acquiring an additional 1,330 shares during the period. Advisors Asset Management Inc. purchased a new position in shares of Telefonica Brasil during the 1st quarter worth $52,000. EverSource Wealth Advisors LLC grew its position in shares of Telefonica Brasil by 214.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,766 shares of the Wireless communications provider’s stock valued at $54,000 after acquiring an additional 3,248 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Telefonica Brasil during the 4th quarter valued at $110,000. Institutional investors own 5.16% of the company’s stock.

Telefonica Brasil Stock Down 0.9%

VIV opened at $13.11 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.03 and a current ratio of 1.10. Telefonica Brasil S.A. has a fifty-two week low of $10.73 and a fifty-two week high of $17.25. The firm’s fifty day moving average is $14.31 and its 200 day moving average is $14.31. The stock has a market cap of $21.32 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 0.70 and a beta of 0.56.

Telefonica Brasil (NYSE:VIV) last issued its quarterly earnings results on Thursday, May 7th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). Telefonica Brasil had a return on equity of 9.32% and a net margin of 10.49%.The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.98 billion. On average, sell-side analysts forecast that Telefonica Brasil S.A. will post 0.97 earnings per share for the current fiscal year.

Telefonica Brasil Dividend Announcement

The firm also recently announced a dividend, which will be paid on Tuesday, July 21st. Investors of record on Friday, May 22nd will be paid a dividend of $0.4562 per share. The ex-dividend date of this dividend is Friday, May 22nd. Telefonica Brasil’s dividend payout ratio (DPR) is 100.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bradesco Corretora cut Telefonica Brasil to a “neutral” rating in a report on Tuesday, April 28th. Scotiabank reduced their price target on Telefonica Brasil from $15.70 to $15.40 and set a “sector perform” rating for the company in a research report on Wednesday, May 27th. UBS Group downgraded Telefonica Brasil from a “buy” rating to a “sell” rating in a research note on Wednesday, March 11th. New Street Research raised Telefonica Brasil from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings downgraded Telefonica Brasil from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $14.36.

About Telefonica Brasil

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.