Connor Clark & Lunn Investment Management Ltd. Cuts Holdings in Telefônica Brasil S.A. (NYSE:VIV)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Telefônica Brasil S.A. (NYSE:VIV) by 33.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 775,561 shares of the Wireless communications provider’s stock after selling 396,228 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Telefônica Brasil were worth $5,855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Telefônica Brasil by 67.8% during the fourth quarter. GAMMA Investing LLC now owns 3,818 shares of the Wireless communications provider’s stock worth $29,000 after purchasing an additional 1,543 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Telefônica Brasil by 86.4% during the 4th quarter. Allworth Financial LP now owns 4,169 shares of the Wireless communications provider’s stock valued at $31,000 after buying an additional 1,933 shares in the last quarter. R Squared Ltd bought a new stake in Telefônica Brasil in the 4th quarter worth approximately $37,000. Blue Trust Inc. boosted its stake in Telefônica Brasil by 46.4% in the fourth quarter. Blue Trust Inc. now owns 8,823 shares of the Wireless communications provider’s stock worth $67,000 after buying an additional 2,797 shares in the last quarter. Finally, DAVENPORT & Co LLC purchased a new position in shares of Telefônica Brasil during the fourth quarter worth approximately $78,000. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

Telefônica Brasil Trading Up 3.6 %

NYSE:VIV opened at $8.85 on Friday. Telefônica Brasil S.A. has a 12 month low of $7.47 and a 12 month high of $10.63. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $8.56 and a 200-day moving average price of $8.90. The stock has a market cap of $14.62 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 0.84 and a beta of 0.76.

Telefônica Brasil (NYSE:VIV) last posted its quarterly earnings data on Tuesday, February 25th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. Equities analysts predict that Telefônica Brasil S.A. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VIV. StockNews.com raised shares of Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 7th. Barclays raised shares of Telefônica Brasil from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $11.80 to $11.50 in a research report on Monday, March 3rd. The Goldman Sachs Group decreased their price objective on shares of Telefônica Brasil from $10.60 to $9.20 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Scotiabank cut their target price on Telefônica Brasil from $10.40 to $9.20 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Finally, New Street Research lowered Telefônica Brasil from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Telefônica Brasil currently has an average rating of “Moderate Buy” and a consensus price target of $9.97.

Telefônica Brasil Company Profile

Telefônica Brasil SA, together with its subsidiaries, operates as a mobile telecommunications company 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, 4.5G, and 5G, as well as mobile value-added and wireless roaming services.