Arrowstreet Capital Limited Partnership Purchases 2,036,349 Shares of Telefonica Brasil S.A. $VIV

Arrowstreet Capital Limited Partnership boosted its holdings in Telefonica Brasil S.A. (NYSE:VIV) by 54.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,754,523 shares of the Wireless communications provider’s stock after buying an additional 2,036,349 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Telefonica Brasil were worth $65,602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of Telefonica Brasil during the 1st quarter valued at $7,147,000. Ramirez Asset Management Inc. bought a new position in shares of Telefonica Brasil in the 2nd quarter worth $4,866,000. Invesco Ltd. lifted its stake in Telefonica Brasil by 36.4% in the first quarter. Invesco Ltd. now owns 1,445,527 shares of the Wireless communications provider’s stock valued at $12,605,000 after buying an additional 385,848 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Telefonica Brasil by 62.3% during the second quarter. Envestnet Asset Management Inc. now owns 729,193 shares of the Wireless communications provider’s stock worth $8,313,000 after buying an additional 279,980 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Telefonica Brasil during the 2nd quarter worth about $2,388,000. 5.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VIV. Barclays restated an “overweight” rating and set a $14.50 price objective on shares of Telefonica Brasil in a report on Monday, November 3rd. Wall Street Zen upgraded Telefonica Brasil from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Telefonica Brasil in a research note on Friday, August 8th. The Goldman Sachs Group lifted their price objective on shares of Telefonica Brasil from $11.40 to $12.60 and gave the stock a “buy” rating in a research note on Tuesday, August 19th. Finally, Morgan Stanley set a $12.00 price target on Telefonica Brasil in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.90.

Telefonica Brasil Stock Up 1.5%

VIV opened at $13.06 on Friday. The company’s 50-day moving average price is $12.57 and its two-hundred day moving average price is $11.84. Telefonica Brasil S.A. has a twelve month low of $7.47 and a twelve month high of $13.31. The stock has a market cap of $21.24 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.03 and a beta of 0.69. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.19.

Telefonica Brasil (NYSE:VIV) last announced its quarterly earnings results on Friday, November 14th. The Wireless communications provider reported $0.11 EPS for the quarter. The firm had revenue of $2.81 billion during the quarter. Telefonica Brasil had a net margin of 10.37% and a return on equity of 8.67%. As a group, equities analysts expect that Telefonica Brasil S.A. will post 0.6 earnings per share 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.