Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 500,000 Telefônica Brasil S.A. (NYSE:VIV)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Telefônica Brasil S.A. (NYSE:VIV) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 500,000 shares of the Wireless communications provider’s stock, valued at approximately $5,135,000.

Other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Telefônica Brasil by 49.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,171,789 shares of the Wireless communications provider’s stock valued at $12,034,000 after acquiring an additional 385,207 shares during the period. Brandes Investment Partners LP grew its position in Telefônica Brasil by 14.3% in the 2nd quarter. Brandes Investment Partners LP now owns 2,206,334 shares of the Wireless communications provider’s stock valued at $18,261,000 after buying an additional 275,569 shares in the last quarter. Millennium Management LLC increased its stake in Telefônica Brasil by 96.8% during the 2nd quarter. Millennium Management LLC now owns 544,019 shares of the Wireless communications provider’s stock valued at $4,466,000 after buying an additional 267,652 shares during the period. Summit Global Investments raised its position in shares of Telefônica Brasil by 82.4% during the 2nd quarter. Summit Global Investments now owns 523,647 shares of the Wireless communications provider’s stock worth $4,299,000 after buying an additional 236,594 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Telefônica Brasil by 308.7% in the 2nd quarter. Acadian Asset Management LLC now owns 264,192 shares of the Wireless communications provider’s stock worth $2,166,000 after acquiring an additional 199,546 shares during the period. Institutional investors own 5.16% of the company’s stock.

Telefônica Brasil Price Performance

NYSE VIV opened at $8.21 on Friday. Telefônica Brasil S.A. has a 1 year low of $8.01 and a 1 year high of $11.43. The stock’s 50-day moving average price is $9.38 and its two-hundred day moving average price is $9.08. The company has a market cap of $13.66 billion, a PE ratio of 13.03, a PEG ratio of 0.83 and a beta of 0.81. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19.

Telefônica Brasil (NYSE:VIV) last posted its quarterly earnings data on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.03. Telefônica Brasil had a net margin of 9.78% and a return on equity of 7.77%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the company posted $0.18 EPS. On average, analysts predict that Telefônica Brasil S.A. will post 0.63 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on VIV. StockNews.com cut Telefônica Brasil from a “strong-buy” rating to a “buy” rating in a report on Monday, November 25th. Scotiabank upped their price objective on Telefônica Brasil from $9.20 to $10.40 and gave the company a “sector perform” rating in a report on Friday, September 20th. Finally, Barclays lifted their target price on Telefônica Brasil from $11.50 to $11.80 and gave the stock an “equal weight” rating in a report on Monday, November 25th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.07.

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.