Virtus ETF Advisers LLC Sells 906 Shares of Tim S.A. (NYSE:TIMB)

Virtus ETF Advisers LLC cut its holdings in shares of Tim S.A. (NYSE:TIMB) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,434 shares of the company’s stock after selling 906 shares during the period. Virtus ETF Advisers LLC’s holdings in TIM were worth $123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Schroder Investment Management Group purchased a new position in TIM during the 4th quarter valued at $5,666,000. Renaissance Technologies LLC boosted its stake in shares of TIM by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,718,588 shares of the company’s stock valued at $20,211,000 after purchasing an additional 283,002 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of TIM by 8.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,932,973 shares of the company’s stock valued at $22,732,000 after buying an additional 152,061 shares during the period. Marshall Wace LLP raised its stake in TIM by 278.8% in the fourth quarter. Marshall Wace LLP now owns 178,023 shares of the company’s stock worth $2,094,000 after buying an additional 131,023 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in TIM by 127.4% in the fourth quarter. Brandes Investment Partners LP now owns 144,814 shares of the company’s stock worth $1,703,000 after buying an additional 81,136 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TIMB shares. Scotiabank reduced their target price on TIM from $23.20 to $17.60 and set a “sector outperform” rating on the stock in a report on Wednesday, February 12th. Barclays upped their price target on TIM from $16.00 to $16.50 and gave the stock an “equal weight” rating in a research note on Monday, March 17th.

TIM Price Performance

Shares of NYSE TIMB opened at $16.27 on Monday. The company has a 50 day simple moving average of $15.00 and a two-hundred day simple moving average of $13.98. Tim S.A. has a fifty-two week low of $11.32 and a fifty-two week high of $18.39. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.67 and a beta of 0.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.93 and a current ratio of 0.97.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). TIM had a return on equity of 11.91% and a net margin of 12.24%. Analysts expect that Tim S.A. will post 1.34 EPS for the current fiscal year.

TIM Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, October 30th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.2288 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is an increase from TIM’s previous dividend of $0.08. This represents a dividend yield of 5.73%. TIM’s dividend payout ratio (DPR) is presently 65.25%.

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.