Goldman Sachs Group Inc. Reduces Stock Position in Telefonica Brasil S.A. $VIV

Key Points

• Goldman Sachs Group Inc. reduced its stake in Telefonica Brasil S.A. by 35.8% during the first quarter, selling 376,912 shares and leaving it with 675,397 shares valued at $5,889,000.
• Several institutional investors have also either bought or increased their shares in Telefonica Brasil, contributing to a diverse ownership landscape where hedge funds own 5.16% of the company's stock.
• Analysts have mixed opinions on the stock with a consensus rating of "Hold" and an average price target of $12.70, reflecting varied outlooks from investment firms like Goldman Sachs and JPMorgan Chase & Co.

Goldman Sachs Group Inc. lessened its holdings in Telefonica Brasil S.A. (NYSE:VIV - Free Report) by 35.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 675,397 shares of the Wireless communications provider's stock after selling 376,912 shares during the quarter. Goldman Sachs Group Inc.'s holdings in Telefonica Brasil were worth $5,889,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of VIV. Modern Wealth Management LLC purchased a new position in shares of Telefonica Brasil during the first quarter worth about $423,000. Rhumbline Advisers grew its holdings in shares of Telefonica Brasil by 337.7% during the first quarter. Rhumbline Advisers now owns 4,233 shares of the Wireless communications provider's stock worth $37,000 after purchasing an additional 3,266 shares during the last quarter. Strs Ohio purchased a new position in shares of Telefonica Brasil during the first quarter worth about $7,147,000. Ascent Group LLC purchased a new position in shares of Telefonica Brasil during the first quarter worth about $158,000. Finally, Advisors Asset Management Inc. purchased a new position in shares of Telefonica Brasil during the first quarter worth about $52,000. Hedge funds and other institutional investors own 5.16% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup assumed coverage on Telefonica Brasil in a report on Wednesday, September 10th. They set a "neutral" rating on the stock. The Goldman Sachs Group raised their price objective on Telefonica Brasil from $11.40 to $12.60 and gave the stock a "buy" rating in a report on Tuesday, August 19th. Scotiabank increased their target price on shares of Telefonica Brasil from $8.80 to $12.50 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Telefonica Brasil in a research note on Friday, August 8th. Finally, Barclays reiterated an "overweight" rating and set a $13.00 target price (up previously from $12.50) on shares of Telefonica Brasil in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $12.70.

Telefonica Brasil Trading Up 1.6%

Shares of VIV opened at $12.68 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $11.90 and a 200-day simple moving average of $12.47. Telefonica Brasil S.A. has a 1-year low of $7.47 and a 1-year high of $12.92. The stock has a market cap of $20.62 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 0.85 and a beta of 0.81.

Telefonica Brasil (NYSE:VIV - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.01). The business had revenue of $2.62 billion for the quarter, compared to analysts' expectations of $14.48 billion. Telefonica Brasil had a return on equity of 8.32% and a net margin of 10.13%. Equities analysts forecast that Telefonica Brasil S.A. will post 0.6 EPS for the current fiscal year.

Telefonica Brasil 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.

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