Investors Research Corp Sells 74,800 Shares of Telefonica Brasil S.A. $VIV

Key Points

• Investors Research Corp significantly reduced its stake in Telefonica Brasil S.A. by 94.4%, selling 74,800 shares and holding only 4,412 shares worth $50,000 at the end of the second quarter.
• Wall Street analysts display mixed sentiments towards Telefonica Brasil, with two giving a "Buy" rating, four a "Hold", and one a "Sell", while the average price target is set at $12.70.
• Telefonica Brasil's stock is currently trading at $12.49, with financial metrics indicating a debt-to-equity ratio of 0.20 and earnings per share of $0.15, which missed consensus estimates.

Investors Research Corp trimmed its stake in Telefonica Brasil S.A. (NYSE:VIV - Free Report) by 94.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,412 shares of the Wireless communications provider's stock after selling 74,800 shares during the period. Investors Research Corp's holdings in Telefonica Brasil were worth $50,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp lifted its stake in shares of Telefonica Brasil by 40.0% in the 4th quarter. Northern Trust Corp now owns 244,756 shares of the Wireless communications provider's stock worth $1,848,000 after acquiring an additional 69,946 shares during the period. Jane Street Group LLC acquired a new position in Telefonica Brasil during the fourth quarter worth about $1,091,000. BNP Paribas Financial Markets purchased a new stake in shares of Telefonica Brasil during the fourth quarter worth about $503,000. Cetera Investment Advisers grew its holdings in shares of Telefonica Brasil by 9.7% during the fourth quarter. Cetera Investment Advisers now owns 30,650 shares of the Wireless communications provider's stock worth $231,000 after buying an additional 2,703 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Telefonica Brasil during the fourth quarter worth about $313,000. 5.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Telefonica Brasil from $11.40 to $12.60 and gave the stock a "buy" rating in a research note on Tuesday, August 19th. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Telefonica Brasil in a research report on Friday, August 8th. Scotiabank boosted their target price on shares of Telefonica Brasil from $8.80 to $12.50 and gave the stock a "sector perform" rating in a research report on Thursday, July 31st. Citigroup began coverage on shares of Telefonica Brasil in a research report on Wednesday, September 10th. They set a "neutral" rating on the stock. Finally, Zacks Research cut shares of Telefonica Brasil from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $12.70.

Telefonica Brasil Price Performance

Shares of NYSE VIV traded down $0.12 during midday trading on Friday, reaching $12.56. 293,007 shares of the company traded hands, compared to its average volume of 1,247,769. The firm has a market cap of $20.42 billion, a PE ratio of 20.25, a PEG ratio of 0.87 and a beta of 0.81. The stock's 50-day simple moving average is $11.97 and its 200-day simple moving average is $12.45. Telefonica Brasil S.A. has a 12 month low of $7.47 and a 12 month high of $12.92. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.98.

Telefonica Brasil (NYSE:VIV - Get Free Report) last released 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). The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $14.48 billion. Telefonica Brasil had a net margin of 10.13% and a return on equity of 8.32%. As a group, equities analysts anticipate that Telefonica Brasil S.A. will post 0.6 earnings per share for the current fiscal 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.