Telefônica Brasil S.A. (NYSE:VIV) Stake Boosted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its position in Telefônica Brasil S.A. (NYSE:VIV) by 49.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,171,789 shares of the Wireless communications provider’s stock after acquiring an additional 385,207 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Telefônica Brasil were worth $12,034,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of VIV. Bleakley Financial Group LLC lifted its holdings in shares of Telefônica Brasil by 5.9% during the third quarter. Bleakley Financial Group LLC now owns 19,539 shares of the Wireless communications provider’s stock valued at $201,000 after purchasing an additional 1,080 shares during the last quarter. Kathmere Capital Management LLC grew its position in Telefônica Brasil by 4.1% in the 2nd quarter. Kathmere Capital Management LLC now owns 28,877 shares of the Wireless communications provider’s stock worth $237,000 after purchasing an additional 1,150 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Telefônica Brasil by 5.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 23,708 shares of the Wireless communications provider’s stock worth $243,000 after purchasing an additional 1,236 shares during the period. Gabelli Funds LLC lifted its holdings in Telefônica Brasil by 0.5% during the 1st quarter. Gabelli Funds LLC now owns 330,000 shares of the Wireless communications provider’s stock valued at $3,323,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Telefônica Brasil by 2.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 56,552 shares of the Wireless communications provider’s stock worth $464,000 after purchasing an additional 1,558 shares in the last quarter. 5.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VIV has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Telefônica Brasil from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 14th. Barclays lifted their target price on Telefônica Brasil from $11.00 to $11.50 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, Scotiabank boosted their price objective on shares of Telefônica Brasil from $9.20 to $10.40 and gave the stock a “sector perform” rating in a research note on Friday, September 20th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.97.

Telefônica Brasil Stock Down 3.0 %

VIV stock opened at $8.72 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $14.50 billion, a PE ratio of 13.84, a P/E/G ratio of 0.89 and a beta of 0.81. The stock’s 50 day moving average is $9.54 and its 200-day moving average is $9.11. Telefônica Brasil S.A. has a twelve month low of $8.02 and a twelve month high of $11.43.

Telefônica Brasil (NYSE:VIV) last announced its quarterly earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. During the same period in the prior year, the company posted $0.18 EPS. Sell-side analysts expect that Telefônica Brasil S.A. will post 0.61 EPS for the current fiscal year.

About Telefônica 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.