Tim S.A. (NYSE:TIMB) Stake Lessened by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its stake in Tim S.A. (NYSE:TIMB) by 62.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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.

A number of other hedge funds and other institutional investors have also made changes to their positions in TIMB. Robeco Institutional Asset Management B.V. boosted its holdings in TIM by 78.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,785,985 shares of the company’s stock worth $26,611,000 after purchasing an additional 786,452 shares during the period. Raymond James & Associates acquired a new position in TIM in the third quarter worth $194,000. Solstein Capital LLC boosted its holdings in TIM by 60.3% in the third quarter. Solstein Capital LLC now owns 43,600 shares of the company’s stock worth $650,000 after purchasing an additional 16,400 shares during the period. Assetmark Inc. boosted its holdings in TIM by 9.3% in the third quarter. Assetmark Inc. now owns 182,535 shares of the company’s stock worth $2,720,000 after purchasing an additional 15,470 shares during the period. Finally, Signaturefd LLC boosted its holdings in TIM by 25.8% in the third quarter. Signaturefd LLC now owns 3,916 shares of the company’s stock worth $58,000 after purchasing an additional 803 shares during the period.

Wall Street Analyst Weigh In

Separately, Barclays lifted their price objective on shares of 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. 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 current ratio of 0.79 and a quick ratio of 0.76. The firm has a fifty day moving average of $17.94 and a 200-day moving average of $17.58.

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

TIM Cuts Dividend

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