JPMorgan Chase & Co. Has $13.96 Million Stake in Tim S.A. (NYSE:TIMB)

JPMorgan Chase & Co. reduced its position in shares of Tim S.A. (NYSE:TIMB) by 17.8% in the 3rd quarter, according to the company in its most recent 13F filing 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.’s holdings in TIM were worth $13,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp increased its holdings in shares of TIM by 1.0% during the third quarter. Stifel Financial Corp now owns 85,050 shares of the company’s stock worth $1,465,000 after purchasing an additional 822 shares during the period. State Street Corp grew its position in TIM by 16.7% during the third quarter. State Street Corp now owns 583,724 shares of the company’s stock worth $10,207,000 after buying an additional 83,468 shares in the last quarter. Meritage Portfolio Management bought a new position in TIM during the 3rd quarter worth $3,683,000. Public Employees Retirement System of Ohio acquired a new position in TIM in the 3rd quarter valued at $1,089,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of TIM by 69.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 22,000 shares of the company’s stock valued at $315,000 after acquiring an additional 9,000 shares during the period.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Scotiabank decreased their price target 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. Barclays decreased their target price on shares of TIM from $18.00 to $17.50 and set an “equal weight” rating on the stock in a report on Tuesday, November 12th. UBS Group cut shares of TIM from a “buy” rating to a “neutral” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group reduced their price target on shares of TIM from $16.20 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th.

TIM Stock Performance

NYSE:TIMB opened at $11.40 on Friday. Tim S.A. has a twelve month low of $11.32 and a twelve month high of $19.14. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $12.99 and its 200 day simple moving average is $14.74. The firm has a market capitalization of $5.52 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 0.57 and a beta of 0.83.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, analysts anticipate that Tim S.A. will post 1.2 EPS for the current fiscal year.

TIM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Monday, December 30th will be paid a dividend of $0.1723 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date of this dividend is Monday, December 30th. This is a boost from TIM’s previous quarterly dividend of $0.09. TIM’s 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.