Tim S.A. (NYSE:TIMB) Stock Position Cut by Brandes Investment Partners LP

Brandes Investment Partners LP trimmed its stake in shares of Tim S.A. (NYSE:TIMB) by 59.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,834 shares of the company’s stock after selling 92,800 shares during the quarter. Brandes Investment Partners LP’s holdings in TIM were worth $925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in shares of TIM by 11.7% in the second quarter. Renaissance Technologies LLC now owns 1,364,048 shares of the company’s stock valued at $19,533,000 after buying an additional 142,862 shares during the period. Millennium Management LLC lifted its holdings in TIM by 16.0% in the 2nd quarter. Millennium Management LLC now owns 923,532 shares of the company’s stock valued at $13,225,000 after acquiring an additional 127,465 shares during the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of TIM by 90.8% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 688,950 shares of the company’s stock valued at $9,847,000 after purchasing an additional 327,874 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of TIM in the 2nd quarter worth approximately $8,818,000. Finally, UBS Group AG raised its holdings in shares of TIM by 19.3% in the 4th quarter. UBS Group AG now owns 453,388 shares of the company’s stock worth $8,374,000 after purchasing an additional 73,388 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TIMB. Barclays reduced their target price on shares of TIM from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Scotiabank upgraded TIM from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $17.50 to $24.80 in a report on Friday, September 20th.

TIM Stock Up 0.3 %

TIMB stock opened at $17.22 on Tuesday. Tim S.A. has a one year low of $13.84 and a one year high of $19.14. The firm has a 50-day moving average of $16.15 and a two-hundred day moving average of $16.21. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.52.

TIM (NYSE:TIMB) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.31 EPS for the quarter. TIM had a net margin of 12.53% and a return on equity of 11.47%. The business had revenue of $1.21 billion during the quarter. On average, research analysts expect that Tim S.A. will post 1.27 EPS for the current year.

TIM Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be given a dividend of $0.088 per share. This represents a $0.35 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, September 30th. TIM’s payout ratio is 27.64%.

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.