JPMorgan Chase & Co. Sells 175,585 Shares of Tim S.A. (NYSE:TIMB)

JPMorgan Chase & Co. lowered its stake in shares of Tim S.A. (NYSE:TIMB) by 17.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 810,871 shares of the company’s stock after selling 175,585 shares during the period. JPMorgan Chase & Co. owned approximately 0.17% of TIM worth $13,963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TIMB. Stifel Financial Corp grew its stake in TIM by 1.0% in the third quarter. Stifel Financial Corp now owns 85,050 shares of the company’s stock valued at $1,465,000 after acquiring an additional 822 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 in the last quarter. QRG Capital Management Inc. grew its position in shares of TIM by 7.9% in the 3rd quarter. QRG Capital Management Inc. now owns 14,881 shares of the company’s stock valued at $256,000 after purchasing an additional 1,085 shares during the period. DGS Capital Management LLC increased its stake in TIM by 4.4% during the 3rd quarter. DGS Capital Management LLC now owns 32,682 shares of the company’s stock worth $563,000 after purchasing an additional 1,367 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in TIM during the 3rd quarter worth approximately $25,000.

Wall Street Analyst Weigh In

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

TIM Stock Down 4.8 %

Shares of TIMB stock opened at $11.40 on Friday. The firm’s fifty day moving average price is $12.99 and its two-hundred day moving average price is $14.74. Tim S.A. has a 1 year low of $11.32 and a 1 year high of $19.14. 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 market capitalization of $5.52 billion, a P/E ratio of 9.05, a PEG ratio of 0.57 and a beta of 0.83.

TIM (NYSE:TIMB) last issued its earnings results on Tuesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). TIM had a net margin of 12.71% and a return on equity of 11.73%. The firm had revenue of $1.16 billion during the quarter. On average, equities analysts predict that Tim S.A. will post 1.2 EPS for the current fiscal 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 given a $0.1723 dividend. The ex-dividend date of this dividend is Monday, December 30th. This is a positive change from TIM’s previous quarterly dividend of $0.09. This represents a $0.69 annualized dividend and a dividend yield of 6.04%. TIM’s dividend payout ratio is presently 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.