Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in Telefônica Brasil S.A. (NYSE:VIV)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Telefônica Brasil S.A. (NYSE:VIV - Free Report) by 49.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,171,789 shares of the Wireless communications provider's stock after buying an additional 385,207 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Telefônica Brasil worth $12,034,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Telefônica Brasil by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 1,222,562 shares of the Wireless communications provider's stock worth $12,311,000 after acquiring an additional 72,388 shares during the period. Acadian Asset Management LLC acquired a new stake in Telefônica Brasil in the first quarter valued at approximately $650,000. Frank Rimerman Advisors LLC bought a new stake in shares of Telefônica Brasil during the second quarter valued at approximately $842,000. Brandes Investment Partners LP grew its holdings in shares of Telefônica Brasil by 14.3% during the second 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 during the last quarter. Finally, Millennium Management LLC increased its holdings 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 worth $4,466,000 after purchasing an additional 267,652 shares in the last quarter. 5.16% of the stock is currently owned by institutional investors.

Telefônica Brasil Price Performance

NYSE VIV traded up $0.04 during trading hours on Friday, reaching $8.75. 532,169 shares of the stock traded hands, compared to its average volume of 802,237. The stock has a 50 day simple moving average of $9.54 and a two-hundred day simple moving average of $9.11. Telefônica Brasil S.A. has a 1 year low of $8.02 and a 1 year high of $11.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.91. The company has a market cap of $14.56 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 0.89 and a beta of 0.81.

Telefônica Brasil (NYSE:VIV - Get Free Report) last released its earnings results on Tuesday, November 5th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.03. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. Telefônica Brasil had a return on equity of 7.77% and a net margin of 9.78%. During the same quarter in the previous year, the company posted $0.18 EPS. On average, analysts predict that Telefônica Brasil S.A. will post 0.61 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays lifted their price objective on shares of Telefônica Brasil from $11.00 to $11.50 and gave the stock an "equal weight" rating in a report on Thursday, August 1st. Scotiabank increased their target price on shares of Telefônica Brasil from $9.20 to $10.40 and gave the company a "sector perform" rating in a research report on Friday, September 20th. Finally, StockNews.com upgraded Telefônica Brasil from a "buy" rating to a "strong-buy" rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Telefônica Brasil has a consensus rating of "Moderate Buy" and an average price target of $10.97.

Telefônica 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.