Tim S.A. (NYSE:TIMB) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of Tim S.A. (NYSE:TIMB) by 19.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 108,648 shares of the company’s stock after selling 26,500 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in TIM were worth $2,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Signaturefd LLC increased its stake in shares of TIM by 25.8% during the third quarter. Signaturefd LLC now owns 3,916 shares of the company’s stock valued at $58,000 after acquiring an additional 803 shares during the period. Group One Trading L.P. grew its position in TIM by 125.6% in the third quarter. Group One Trading L.P. now owns 2,933 shares of the company’s stock worth $44,000 after buying an additional 1,633 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in TIM by 16.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 12,960 shares of the company’s stock worth $193,000 after buying an additional 1,861 shares during the last quarter. Blue Trust Inc. grew its position in TIM by 102.7% in the fourth quarter. Blue Trust Inc. now owns 3,972 shares of the company’s stock worth $73,000 after buying an additional 2,012 shares during the last quarter. Finally, Gabelli Funds LLC grew its position in TIM by 4.0% in the third quarter. Gabelli Funds LLC now owns 102,978 shares of the company’s stock worth $1,534,000 after buying an additional 4,000 shares during the last quarter.

TIM Stock Performance

TIM stock opened at $16.87 on Thursday. The firm’s 50 day moving average price is $17.98 and its two-hundred day moving average price is $17.55. Tim S.A. has a 1 year low of $13.17 and a 1 year high of $19.14. 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 (NYSE:TIMB) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.37 EPS for the quarter. TIM had a net margin of 11.96% and a return on equity of 10.71%. The firm had revenue of $1.27 billion during the quarter. Sell-side analysts forecast that Tim S.A. will post 1.37 earnings per share for the current fiscal year.

TIM Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 1st will be paid a $0.064 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, March 28th. TIM’s dividend payout ratio is 91.53%.

Analyst Ratings Changes

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

TIM Company 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.