Arrowstreet Capital Limited Partnership Sells 397,925 Shares of Telefonica Brasil S.A. $VIV

Arrowstreet Capital Limited Partnership reduced its holdings in Telefonica Brasil S.A. (NYSE:VIV) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,609,572 shares of the Wireless communications provider’s stock after selling 397,925 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Telefonica Brasil were worth $73,338,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Barometer Capital Management Inc. acquired a new position in Telefonica Brasil in the 1st quarter valued at approximately $1,277,000. Dorsey Wright & Associates boosted its position in Telefonica Brasil by 39.6% in the first quarter. Dorsey Wright & Associates now owns 179,712 shares of the Wireless communications provider’s stock valued at $2,859,000 after buying an additional 51,010 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Telefonica Brasil in the 1st quarter worth approximately $216,000. Sanctuary Advisors LLC increased its holdings in Telefonica Brasil by 17.5% during the 1st quarter. Sanctuary Advisors LLC now owns 14,321 shares of the Wireless communications provider’s stock valued at $228,000 after purchasing an additional 2,136 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its position in Telefonica Brasil by 43.5% in the 1st quarter. Bleakley Financial Group LLC now owns 39,956 shares of the Wireless communications provider’s stock valued at $636,000 after purchasing an additional 12,115 shares during the last quarter. Institutional investors and hedge funds own 5.16% of the company’s stock.

Analysts Set New Price Targets

VIV has been the topic of several research analyst reports. Weiss Ratings cut Telefonica Brasil from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 7th. Scotiabank cut their price target on Telefonica Brasil from $15.70 to $15.40 and set a “sector perform” rating for the company in a report on Wednesday, May 27th. New Street Research upgraded shares of Telefonica Brasil from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 7th. Bradesco Corretora lowered shares of Telefonica Brasil to a “neutral” rating in a report on Tuesday, April 28th. Finally, Zacks Research cut shares of Telefonica Brasil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $14.16.

Telefonica Brasil Price Performance

Telefonica Brasil stock opened at $14.05 on Monday. The business’s 50-day simple moving average is $13.41 and its 200 day simple moving average is $14.56. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 0.21. The stock has a market cap of $22.86 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 0.74 and a beta of 0.56. Telefonica Brasil S.A. has a 12-month low of $10.82 and a 12-month high of $17.25.

Telefonica Brasil (NYSE:VIV) last announced its quarterly earnings data on Thursday, May 7th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). Telefonica Brasil had a return on equity of 9.32% and a net margin of 10.49%.The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.98 billion. As a group, research analysts anticipate that Telefonica Brasil S.A. will post 0.97 earnings per share for the current year.

Telefonica Brasil Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, July 21st. Stockholders of record on Friday, May 22nd were given a dividend of $0.4562 per share. The ex-dividend date was Friday, May 22nd. Telefonica Brasil’s payout ratio is currently 37.84%.

About Telefonica Brasil

Telefônica Brasil SA, commonly marketed under the Vivo brand, is one of Brazil’s largest telecommunications providers, offering a broad range of consumer and enterprise communications services. The company’s core activities include mobile voice and data services, fixed-line telephony, broadband internet (including fiber-to-the-home), and pay-TV solutions. It also provides ICT and managed services for business customers, such as cloud, data center, connectivity, Internet of Things (IoT) and security solutions.

Vivo operates a nationwide network across Brazil and serves both individual consumers and corporate clients.