Connor Clark & Lunn Investment Management Ltd. Cuts Position in Telefonica Brasil S.A. $VIV

Connor Clark & Lunn Investment Management Ltd. lessened its position in Telefonica Brasil S.A. (NYSE:VIV) by 41.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 226,538 shares of the Wireless communications provider’s stock after selling 162,228 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Telefonica Brasil were worth $2,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its holdings in shares of Telefonica Brasil by 39.3% in the 1st 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 in the last quarter. Rhumbline Advisers lifted its position in Telefonica Brasil by 337.7% in the 1st quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 3,266 shares during the last quarter. SVB Wealth LLC bought a new stake in Telefonica Brasil in the 1st quarter worth approximately $41,000. Advisors Asset Management Inc. purchased a new stake in Telefonica Brasil in the first quarter worth approximately $52,000. Finally, Farther Finance Advisors LLC grew its position in Telefonica Brasil by 543.7% during the second quarter. Farther Finance Advisors LLC now owns 4,918 shares of the Wireless communications provider’s stock valued at $56,000 after acquiring an additional 4,154 shares during the last quarter. Institutional investors own 5.16% of the company’s stock.

Telefonica Brasil Stock Performance

Shares of NYSE:VIV opened at $13.12 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $12.45 and a 200-day moving average price of $11.55. The company has a market cap of $21.33 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 0.87 and a beta of 0.76. Telefonica Brasil S.A. has a 12 month low of $7.47 and a 12 month high of $13.31.

Telefonica Brasil (NYSE:VIV) last posted its earnings results on Thursday, October 30th. The Wireless communications provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $15.01 billion. Telefonica Brasil had a return on equity of 8.32% and a net margin of 10.13%. As a group, equities analysts anticipate that Telefonica Brasil S.A. will post 0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VIV. Citigroup initiated coverage on shares of Telefonica Brasil in a report on Wednesday, September 10th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Telefonica Brasil in a research note on Friday, August 8th. The Goldman Sachs Group upped their price target on shares of Telefonica Brasil from $11.40 to $12.60 and gave the company a “buy” rating in a research report on Tuesday, August 19th. Scotiabank lifted their price objective on Telefonica Brasil from $8.80 to $12.50 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Finally, Barclays reissued an “overweight” rating and issued a $14.50 target price on shares of Telefonica Brasil in a research note on Monday, November 3rd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.90.

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.