Telefonica Brasil S.A. $VIV Stake Boosted by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its stake in Telefonica Brasil S.A. by 87.4% during the first quarter, now holding shares valued at $677,000.
• Several institutional investors also adjusted their positions, with Dimensional Fund Advisors LP and Northern Trust Corp increasing their stakes significantly in the fourth quarter.
• Recent analyst ratings show a consensus of Hold for Telefonica Brasil, with a price target range of $12.50 to $13.00 from various firms.

Cubist Systematic Strategies LLC lifted its stake in shares of Telefonica Brasil S.A. (NYSE:VIV - Free Report) by 87.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,678 shares of the Wireless communications provider's stock after acquiring an additional 36,224 shares during the period. Cubist Systematic Strategies LLC's holdings in Telefonica Brasil were worth $677,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Telefonica Brasil by 16.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 449,213 shares of the Wireless communications provider's stock worth $3,917,000 after acquiring an additional 63,241 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Telefonica Brasil by 45.6% during the 1st quarter. Federated Hermes Inc. now owns 612,915 shares of the Wireless communications provider's stock worth $5,345,000 after acquiring an additional 191,842 shares during the period. Invesco Ltd. lifted its holdings in shares of Telefonica Brasil by 36.4% during the 1st quarter. Invesco Ltd. now owns 1,445,527 shares of the Wireless communications provider's stock worth $12,605,000 after acquiring an additional 385,848 shares during the period. American Century Companies Inc. increased its position in Telefonica Brasil by 23.7% during the 1st quarter. American Century Companies Inc. now owns 150,128 shares of the Wireless communications provider's stock worth $1,309,000 after purchasing an additional 28,749 shares in the last quarter. Finally, Aberdeen Group plc increased its position in Telefonica Brasil by 4.2% during the 1st quarter. Aberdeen Group plc now owns 2,844,839 shares of the Wireless communications provider's stock worth $24,807,000 after purchasing an additional 114,849 shares in the last quarter. 5.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Telefonica Brasil from $11.40 to $12.60 and gave the stock a "buy" rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Telefonica Brasil in a research report on Friday, August 8th. Zacks Research downgraded shares of Telefonica Brasil from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Citigroup assumed coverage on shares of Telefonica Brasil in a research report on Wednesday. They set a "neutral" rating for the company. Finally, Barclays reissued an "overweight" rating and set a $13.00 target price (up previously from $12.50) on shares of Telefonica Brasil in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $12.70.

Telefonica Brasil Stock Up 0.5%

NYSE:VIV traded up $0.06 during trading hours on Friday, hitting $12.49. The stock had a trading volume of 434,293 shares, compared to its average volume of 734,169. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. Telefonica Brasil S.A. has a 1-year low of $7.47 and a 1-year high of $12.92. The business has a 50 day simple moving average of $11.87 and a two-hundred day simple moving average of $12.60. The company has a market cap of $20.32 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 0.85 and a beta of 0.81.

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

Telefonica 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.