Telefonica Brasil S.A. (NYSE:VIV) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Telefonica Brasil S.A. (NYSE:VIV - Free Report) by 49.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 388,766 shares of the Wireless communications provider's stock after selling 386,795 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Telefonica Brasil were worth $3,390,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its holdings in shares of Telefonica Brasil by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 3,783 shares of the Wireless communications provider's stock worth $33,000 after purchasing an additional 1,067 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Telefonica Brasil by 337.7% during the first quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider's stock worth $37,000 after purchasing an additional 3,266 shares during the last quarter. Parvin Asset Management LLC purchased a new position in shares of Telefonica Brasil during the fourth quarter worth about $51,000. GeoWealth Management LLC grew its holdings in shares of Telefonica Brasil by 1,429.4% during the fourth quarter. GeoWealth Management LLC now owns 8,534 shares of the Wireless communications provider's stock worth $64,000 after purchasing an additional 7,976 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Telefonica Brasil by 984.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,251 shares of the Wireless communications provider's stock worth $70,000 after purchasing an additional 8,398 shares during the last quarter. Hedge funds and other institutional investors own 5.16% of the company's stock.

Telefonica Brasil Stock Performance

NYSE:VIV traded up $0.09 during mid-day trading on Friday, reaching $12.39. The stock had a trading volume of 675,128 shares, compared to its average volume of 1,092,609. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 0.98. The firm has a market capitalization of $20.15 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 0.84 and a beta of 0.71. Telefonica Brasil S.A. has a twelve month low of $7.47 and a twelve month high of $12.45. The business has a 50 day simple moving average of $11.31 and a 200 day simple moving average of $13.33.

Telefonica Brasil (NYSE:VIV - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.01). Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.32%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $14.48 billion. On average, analysts expect that Telefonica Brasil S.A. will post 0.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on VIV shares. The Goldman Sachs Group raised their price objective on Telefonica Brasil from $9.20 to $10.30 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Wall Street Zen lowered Telefonica Brasil from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Telefonica Brasil in a report on Friday, August 8th. Barclays reissued an "overweight" rating and set a $13.00 price target (up previously from $12.50) on shares of Telefonica Brasil in a report on Thursday, August 7th. Finally, Scotiabank raised their price target on Telefonica Brasil from $8.80 to $12.50 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Telefonica Brasil currently has an average rating of "Hold" and a consensus price target of $11.93.

Telefonica Brasil 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.