Fmr LLC Sells 1,174 Shares of Tim S.A. (NYSE:TIMB)

Fmr LLC lowered its stake in Tim S.A. (NYSE:TIMB) by 31.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,591 shares of the company’s stock after selling 1,174 shares during the period. Fmr LLC’s holdings in TIM were worth $45,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in TIM by 108.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock valued at $25,000 after purchasing an additional 835 shares during the last quarter. QRG Capital Management Inc. increased its holdings in TIM by 7.9% in the 3rd quarter. QRG Capital Management Inc. now owns 14,881 shares of the company’s stock worth $256,000 after buying an additional 1,085 shares in the last quarter. XTX Topco Ltd raised its position in TIM by 26.1% in the 2nd quarter. XTX Topco Ltd now owns 13,264 shares of the company’s stock worth $190,000 after buying an additional 2,746 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of TIM by 7.8% in the second quarter. Victory Capital Management Inc. now owns 46,912 shares of the company’s stock worth $672,000 after acquiring an additional 3,408 shares during the period. Finally, Custom Index Systems LLC raised its holdings in shares of TIM by 17.3% during the third quarter. Custom Index Systems LLC now owns 23,536 shares of the company’s stock valued at $405,000 after purchasing an additional 3,468 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TIMB shares. UBS Group cut TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. The Goldman Sachs Group cut their price target on TIM from $16.20 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Barclays lowered their price objective on shares of TIM from $18.00 to $17.50 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. Finally, Scotiabank reduced their target price on shares of TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a report on Tuesday, November 5th.

TIM Stock Up 0.3 %

Shares of NYSE:TIMB opened at $12.08 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $13.73 and its 200 day moving average is $14.98. The stock has a market cap of $5.85 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 0.57 and a beta of 0.84. Tim S.A. has a 52-week low of $11.76 and a 52-week high of $19.14.

TIM (NYSE:TIMB) last announced its earnings results on Tuesday, November 5th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). TIM had a return on equity of 11.73% and a net margin of 12.71%. The firm had revenue of $1.16 billion during the quarter. Sell-side analysts predict that Tim S.A. will post 1.2 EPS for the current year.

TIM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.1723 per share. The ex-dividend date is Monday, December 30th. This represents a $0.69 annualized dividend and a dividend yield of 5.70%. This is an increase from TIM’s previous quarterly dividend of $0.09. TIM’s dividend payout ratio is 53.97%.

About TIM

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.