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

Several other hedge funds have also added to or reduced their stakes in the business. Modern Wealth Management LLC acquired a new stake in Telefonica Brasil during the 1st quarter worth $423,000. Rhumbline Advisers grew its holdings in shares of Telefonica Brasil by 337.7% in the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider's stock valued at $37,000 after acquiring an additional 3,266 shares in the last quarter. Strs Ohio bought a new position in shares of Telefonica Brasil in the 1st quarter valued at about $7,147,000. Ascent Group LLC bought a new position in shares of Telefonica Brasil in the 1st quarter valued at about $158,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Telefonica Brasil in the 1st quarter valued at about $52,000. Institutional investors and hedge funds own 5.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Telefonica Brasil in a report on Friday, August 8th. Wall Street Zen raised shares of Telefonica Brasil from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Citigroup began coverage on shares of Telefonica Brasil in a research report on Wednesday, September 10th. They issued a "neutral" rating for the company. Scotiabank boosted their price objective on shares of Telefonica Brasil from $8.80 to $12.50 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Finally, Zacks Research downgraded shares of Telefonica Brasil from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $12.70.

Telefonica Brasil Stock Performance

Shares of Telefonica Brasil stock opened at $12.49 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 0.20. The company's fifty day moving average is $11.88 and its 200 day moving average is $12.50. Telefonica Brasil S.A. has a twelve month low of $7.47 and a twelve month high of $12.92. The stock has a market cap of $20.32 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 0.85 and a beta of 0.81.

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

About Telefonica Brasil

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.

Want to see what other hedge funds are holding VIV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Telefonica Brasil S.A. (NYSE:VIV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.