Telefonica Brasil (NYSE:VIV) Sees Unusually-High Trading Volume – Here’s What Happened

Telefonica Brasil S.A. (NYSE:VIV) saw an uptick in trading volume on Friday . Approximately 4,045,245 shares changed hands during trading, an increase of 273% from the previous session’s volume of 1,084,412 shares.The stock last traded at $11.3150 and had previously closed at $11.34.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VIV. Weiss Ratings cut Telefonica Brasil from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 7th. Wall Street Zen downgraded shares of Telefonica Brasil from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Bradesco Corretora cut Telefonica Brasil to a “neutral” rating in a report on Tuesday, April 28th. The Goldman Sachs Group assumed coverage on Telefonica Brasil in a report on Monday, May 18th. They issued a “sell” rating and a $13.90 price target for the company. Finally, Scotiabank reduced their price objective on Telefonica Brasil from $15.70 to $15.40 and set a “sector perform” rating on the stock in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $14.26.

Telefonica Brasil Trading Down 0.4%

The stock has a market capitalization of $18.37 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.64 and a beta of 0.57. The company’s 50-day moving average is $13.10 and its 200-day moving average is $14.55. The company has a quick ratio of 0.89, a current ratio of 0.95 and a debt-to-equity ratio of 0.22.

Telefonica Brasil (NYSE:VIV) last posted its earnings results on Monday, July 27th. The Wireless communications provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). Telefonica Brasil had a net margin of 10.64% and a return on equity of 9.72%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. Research analysts anticipate that Telefonica Brasil S.A. will post 0.96 earnings per share for the current fiscal year.

Telefonica Brasil Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, July 21st. Investors of record on Friday, May 22nd were issued a $0.4562 dividend. The ex-dividend date was Friday, May 22nd. Telefonica Brasil’s dividend payout ratio is currently 78.21%.

Hedge Funds Weigh In On Telefonica Brasil

Several large investors have recently modified their holdings of VIV. Invesco Ltd. grew its holdings in shares of Telefonica Brasil by 138.8% during the 3rd quarter. Invesco Ltd. now owns 2,856,618 shares of the Wireless communications provider’s stock worth $36,422,000 after purchasing an additional 1,660,475 shares during the period. Jane Street Group LLC purchased a new stake in Telefonica Brasil in the 2nd quarter valued at about $4,192,000. Kapitalo Investimentos Ltda acquired a new position in Telefonica Brasil in the fourth quarter valued at about $4,211,000. Millennium Management LLC lifted its position in Telefonica Brasil by 477.6% in the third quarter. Millennium Management LLC now owns 392,232 shares of the Wireless communications provider’s stock valued at $5,001,000 after buying an additional 324,319 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Telefonica Brasil by 22.5% during the third quarter. Two Sigma Investments LP now owns 1,672,947 shares of the Wireless communications provider’s stock worth $21,330,000 after buying an additional 307,501 shares during the period. Institutional investors and hedge funds own 5.16% of the company’s stock.

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.