Daiwa Securities Group Inc. Sells 22,000 Shares of Tim S.A. (NYSE:TIMB)

Daiwa Securities Group Inc. lessened its holdings in shares of Tim S.A. (NYSE:TIMB) by 62.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,000 shares of the company’s stock after selling 22,000 shares during the period. Daiwa Securities Group Inc.’s holdings in TIM were worth $240,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. DGS Capital Management LLC boosted its holdings in TIM by 3.9% in the fourth quarter. DGS Capital Management LLC now owns 28,323 shares of the company’s stock valued at $523,000 after acquiring an additional 1,056 shares during the last quarter. Blue Trust Inc. boosted its holdings in TIM by 102.7% in the fourth quarter. Blue Trust Inc. now owns 3,972 shares of the company’s stock valued at $73,000 after acquiring an additional 2,012 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in TIM by 68.3% during the fourth quarter. Ritholtz Wealth Management now owns 40,379 shares of the company’s stock worth $746,000 after buying an additional 16,390 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in TIM by 22.3% during the fourth quarter. Pacer Advisors Inc. now owns 42,762 shares of the company’s stock worth $790,000 after buying an additional 7,789 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new position in TIM during the third quarter worth about $617,000.

Analyst Ratings Changes

Separately, Barclays raised their target price on TIM from $19.50 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 14th.

TIM Trading Up 1.4 %

Shares of TIMB opened at $17.09 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.76 and a current ratio of 0.79. Tim S.A. has a 1 year low of $13.17 and a 1 year high of $19.14. The stock’s 50-day moving average price is $17.94 and its two-hundred day moving average price is $17.58.

TIM (NYSE:TIMB) last issued its earnings results on Tuesday, February 6th. The company reported $0.37 earnings per share (EPS) for the quarter. The firm had revenue of $1.27 billion for the quarter. TIM had a return on equity of 10.71% and a net margin of 11.96%. Equities analysts expect that Tim S.A. will post 1.37 EPS for the current year.

TIM Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 1st will be given a dividend of $0.064 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Thursday, March 28th. TIM’s dividend payout ratio is currently 62.71%.

TIM Profile

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.