Wetherby Asset Management Inc. Raises Stock Position in Telefonica Brasil SA (NYSE:VIV)

Wetherby Asset Management Inc. lifted its stake in shares of Telefonica Brasil SA (NYSE:VIV) by 23.2% during the third quarter, HoldingsChannel.com reports. The fund owned 28,477 shares of the Wireless communications provider’s stock after buying an additional 5,371 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Telefonica Brasil were worth $375,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lenox Wealth Advisors LLC purchased a new position in shares of Telefonica Brasil during the third quarter worth approximately $34,000. Usca Ria LLC purchased a new position in shares of Telefonica Brasil during the third quarter worth approximately $46,000. Assetmark Inc. purchased a new position in shares of Telefonica Brasil during the second quarter worth approximately $99,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of Telefonica Brasil during the second quarter worth approximately $117,000. Finally, Quantamental Technologies LLC purchased a new position in shares of Telefonica Brasil during the second quarter worth approximately $125,000. 9.22% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on VIV. UBS Group reaffirmed a “buy” rating and set a $30.00 target price on shares of Telefonica Brasil in a research report on Friday, October 18th. Standpoint Research lowered shares of Telefonica Brasil from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Credit Suisse Group reaffirmed a “buy” rating and set a $30.10 target price on shares of Telefonica Brasil in a research report on Friday, October 18th. Deutsche Bank reissued a “buy” rating and set a $37.00 price objective on shares of Telefonica Brasil in a report on Friday, October 18th. Finally, TheStreet raised shares of Telefonica Brasil from a “c+” rating to a “b-” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Telefonica Brasil has an average rating of “Hold” and a consensus target price of $28.05.

Shares of VIV stock opened at $13.29 on Friday. The firm has a market cap of $22.54 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 1.77 and a beta of 0.69. The company’s 50 day moving average is $13.13 and its 200 day moving average is $12.84. The company has a quick ratio of 1.00, a current ratio of 1.09 and a debt-to-equity ratio of 0.16. Telefonica Brasil SA has a 52-week low of $10.91 and a 52-week high of $14.47.

About Telefonica Brasil

Telefônica Brasil SA provides mobile and fixed 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, 4G, and 4.5G, as well as mobile value-added services and wireless roaming services.

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Institutional Ownership by Quarter for Telefonica Brasil (NYSE:VIV)

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