Goldman Sachs Group Inc. Sells 376,912 Shares of 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. cut its stake in shares of Telefonica Brasil S.A. (NYSE:VIV - Free Report) by 35.8% in the first quarter, according to the company in 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 period. Goldman Sachs Group Inc.'s holdings in Telefonica Brasil were worth $5,889,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. boosted its stake in shares of Telefonica Brasil by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 3,783 shares of the Wireless communications provider's stock valued at $33,000 after purchasing an additional 1,067 shares during the period. Bessemer Group Inc. lifted its position in shares of Telefonica Brasil by 8.8% during the 1st quarter. Bessemer Group Inc. now owns 28,546 shares of the Wireless communications provider's stock worth $249,000 after buying an additional 2,301 shares during the last quarter. BSW Wealth Partners increased its holdings in shares of Telefonica Brasil by 10.5% in the 1st quarter. BSW Wealth Partners now owns 24,548 shares of the Wireless communications provider's stock valued at $214,000 after acquiring an additional 2,336 shares during the period. Kathmere Capital Management LLC increased its stake in Telefonica Brasil by 7.7% in the 1st quarter. Kathmere Capital Management LLC now owns 35,852 shares of the Wireless communications provider's stock valued at $313,000 after buying an additional 2,576 shares during the period. Finally, Cetera Investment Advisers increased its stake in Telefonica Brasil by 9.7% in the 4th quarter. Cetera Investment Advisers now owns 30,650 shares of the Wireless communications provider's stock valued at $231,000 after buying an additional 2,703 shares during the period. 5.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on VIV shares. Zacks Research lowered shares of Telefonica Brasil from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of Telefonica Brasil from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Barclays reiterated an "overweight" rating and set a $13.00 price objective (up from $12.50) on shares of Telefonica Brasil in a report on Thursday, August 7th. Citigroup assumed coverage on shares of Telefonica Brasil in a report on Wednesday, September 10th. They set a "neutral" rating on the stock. Finally, The Goldman Sachs Group increased their price objective on shares of Telefonica Brasil from $11.40 to $12.60 and gave the stock a "buy" rating in a report on Tuesday, August 19th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $12.70.

Telefonica Brasil Stock Performance

VIV traded down $0.08 during trading hours on Friday, hitting $12.59. 866,832 shares of the stock were exchanged, compared to its average volume of 661,805. The stock has a market cap of $20.48 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 0.86 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.98 and a quick ratio of 0.95. Telefonica Brasil S.A. has a 12 month low of $7.47 and a 12 month high of $12.92. The stock has a 50-day simple moving average of $11.99 and a 200-day simple moving average of $12.42.

Telefonica Brasil (NYSE:VIV - Get Free Report) last released its earnings results on Monday, July 28th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.01). The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $14.48 billion. Telefonica Brasil had a return on equity of 8.32% and a net margin of 10.13%. Analysts anticipate 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.