Sumitomo Mitsui Trust Group Inc. Sells 23,000 Shares of TIM S.A. Sponsored ADR (NYSE:TIMB)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of TIM S.A. Sponsored ADR (NYSE:TIMB) by 17.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,198 shares of the company’s stock after selling 23,000 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in TIM were worth $1,709,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in TIM by 119.3% during the first quarter. GAMMA Investing LLC now owns 3,028 shares of the company’s stock valued at $47,000 after buying an additional 1,647 shares during the period. Farther Finance Advisors LLC increased its stake in shares of TIM by 30,036.4% in the first quarter. Farther Finance Advisors LLC now owns 3,315 shares of the company’s stock worth $53,000 after purchasing an additional 3,304 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of TIM in the fourth quarter worth $54,000. Blue Trust Inc. increased its stake in shares of TIM by 26.2% in the first quarter. Blue Trust Inc. now owns 7,687 shares of the company’s stock worth $120,000 after purchasing an additional 1,597 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of TIM in the fourth quarter worth $146,000.

TIM Price Performance

Shares of NYSE:TIMB opened at $20.63 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.86 and a current ratio of 0.88. The firm has a fifty day moving average price of $18.04 and a 200 day moving average price of $15.35. TIM S.A. Sponsored ADR has a fifty-two week low of $11.32 and a fifty-two week high of $20.78. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 0.94 and a beta of 0.64.

TIM (NYSE:TIMB) last released its quarterly earnings data on Monday, May 5th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. TIM had a net margin of 13.30% and a return on equity of 13.17%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $6.38 billion. As a group, sell-side analysts expect that TIM S.A. Sponsored ADR will post 1.34 earnings per share for the current fiscal year.

TIM Dividend Announcement

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.1086 per share. The ex-dividend date is Friday, May 23rd. This represents a yield of 7.6%. TIM’s dividend payout ratio (DPR) is currently 61.60%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TIMB. Hsbc Global Res cut shares of TIM from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 12th. Wall Street Zen cut shares of TIM from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 15th. Barclays set a $17.50 price objective on shares of TIM in a research note on Wednesday, May 7th. HSBC cut shares of TIM to a “hold” rating in a research note on Friday, June 13th. Finally, The Goldman Sachs Group upped their target price on shares of TIM from $15.30 to $16.90 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.33.

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.