Tim S.A. (NYSE:TIMB) Shares Purchased by State Street Corp

State Street Corp increased its holdings in Tim S.A. (NYSE:TIMB) by 16.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 583,724 shares of the company’s stock after purchasing an additional 83,468 shares during the quarter. State Street Corp’s holdings in TIM were worth $10,207,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TIMB. EverSource Wealth Advisors LLC increased its position in shares of TIM by 108.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock valued at $25,000 after buying an additional 835 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in TIM in the 3rd quarter worth $25,000. Inspire Advisors LLC acquired a new position in TIM during the third quarter worth $173,000. XTX Topco Ltd lifted its holdings in TIM by 26.1% during the second quarter. XTX Topco Ltd now owns 13,264 shares of the company’s stock valued at $190,000 after purchasing an additional 2,746 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of TIM in the second quarter valued at about $202,000.

Analyst Upgrades and Downgrades

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

TIM Stock Down 2.2 %

TIMB stock opened at $11.81 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $13.65 and a two-hundred day moving average of $14.96. Tim S.A. has a 12 month low of $11.76 and a 12 month high of $19.14. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 0.57 and a beta of 0.84.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.09). The company had revenue of $1.16 billion during the quarter. TIM had a net margin of 12.71% and a return on equity of 11.73%. As a group, analysts forecast that Tim S.A. will post 1.2 earnings per share for the current fiscal year.

TIM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Monday, December 30th will be issued a $0.1723 dividend. This represents a $0.69 annualized dividend and a yield of 5.83%. This is a positive change from TIM’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, December 30th. TIM’s payout ratio is presently 53.97%.

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.