Telefonica Brasil (VIV) Shares Gap Up to $13.07

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Telefonica Brasil SA (NYSE:VIV)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $12.78, but opened at $13.07. Telefonica Brasil shares last traded at $13.40, with a volume of 2497833 shares.

A number of research firms have recently weighed in on VIV. ValuEngine raised Telefonica Brasil from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 31st. Credit Suisse Group cut Telefonica Brasil from a “neutral” rating to an “underperform” rating in a report on Thursday, January 10th. Citigroup raised Telefonica Brasil from a “neutral” rating to a “buy” rating in a report on Friday, December 14th. Barclays boosted their price target on Telefonica Brasil from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, October 22nd. Finally, Santander raised Telefonica Brasil from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Telefonica Brasil has an average rating of “Hold” and a consensus target price of $14.90.

The company has a market cap of $21.55 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 1.36 and a beta of 0.70. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.07.

Institutional investors have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group increased its stake in Telefonica Brasil by 876.3% in the third quarter. Rehmann Capital Advisory Group now owns 17,544 shares of the Wireless communications provider’s stock valued at $1,803,000 after purchasing an additional 15,747 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Telefonica Brasil by 227.0% in the third quarter. Russell Investments Group Ltd. now owns 479,449 shares of the Wireless communications provider’s stock valued at $4,774,000 after purchasing an additional 332,844 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Telefonica Brasil by 93.8% in the third quarter. JPMorgan Chase & Co. now owns 937,138 shares of the Wireless communications provider’s stock valued at $9,119,000 after purchasing an additional 453,702 shares during the last quarter. FDx Advisors Inc. acquired a new position in Telefonica Brasil in the third quarter valued at $135,000. Finally, Renaissance Technologies LLC increased its stake in Telefonica Brasil by 154.7% in the second quarter. Renaissance Technologies LLC now owns 111,053 shares of the Wireless communications provider’s stock valued at $1,318,000 after purchasing an additional 67,460 shares during the last quarter. Hedge funds and other institutional investors own 10.40% of the company’s stock.

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About Telefonica Brasil (NYSE:VIV)

TelefĂ´nica Brasil SA provides mobile and fixed line telecommunications services to residential and corporate customers 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 and 4G, as well as mobile value-added services and wireless roaming services.

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