Tim S.A. (NYSE:TIMB) Shares Sold by Assetmark Inc.

Assetmark Inc. cut its stake in shares of Tim S.A. (NYSE:TIMB) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 279,409 shares of the company’s stock after selling 29,816 shares during the quarter. Assetmark Inc. owned approximately 0.06% of TIM worth $3,286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. lifted its stake in TIM by 55.8% during the third quarter. Itau Unibanco Holding S.A. now owns 1,073,450 shares of the company’s stock worth $18,485,000 after purchasing an additional 384,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in TIM by 137.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 707,710 shares of the company’s stock worth $12,187,000 after purchasing an additional 409,992 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in TIM during the third quarter worth approximately $12,054,000. State Street Corp lifted its stake 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 purchasing an additional 83,468 shares during the last quarter. Finally, Meritage Portfolio Management purchased a new stake in TIM during the third quarter worth approximately $3,683,000.

TIM Price Performance

Shares of NYSE TIMB opened at $14.55 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. Tim S.A. has a twelve month low of $11.32 and a twelve month high of $19.12. The stock has a 50 day moving average of $13.32 and a two-hundred day moving average of $14.31. The stock has a market cap of $7.04 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.67 and a beta of 0.84.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). TIM had a net margin of 12.24% and a return on equity of 11.91%. On average, research analysts forecast that Tim S.A. will post 1.34 earnings per share for the current year.

TIM Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.0717 per share. This represents a $0.29 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, February 21st. TIM’s dividend payout ratio (DPR) is presently 51.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays boosted their target price on TIM from $15.50 to $16.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group decreased their target price on TIM from $16.20 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Scotiabank decreased their target price on TIM from $23.20 to $17.60 and set a “sector outperform” rating for the company in a research note on Wednesday, February 12th. Finally, UBS Group cut TIM from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th.

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.