JPMorgan Chase & Co. Reduces Holdings in Tim S.A. (NYSE:TIMB)

JPMorgan Chase & Co. lessened its holdings in shares of Tim S.A. (NYSE:TIMB - Free Report) by 17.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 810,871 shares of the company's stock after selling 175,585 shares during the quarter. JPMorgan Chase & Co. owned about 0.17% of TIM worth $13,963,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of TIM by 7.8% during the 2nd quarter. Victory Capital Management Inc. now owns 46,912 shares of the company's stock valued at $672,000 after purchasing an additional 3,408 shares during the period. Caprock Group LLC bought a new stake in shares of TIM during the second quarter valued at about $202,000. Daiwa Securities Group Inc. lifted its holdings in shares of TIM by 69.2% in the second quarter. Daiwa Securities Group Inc. now owns 22,000 shares of the company's stock worth $315,000 after buying an additional 9,000 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of TIM by 5.8% in the second quarter. American Century Companies Inc. now owns 284,714 shares of the company's stock worth $4,077,000 after buying an additional 15,501 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position 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 acquiring an additional 142,862 shares during the period.

TIM Price Performance

Shares of TIM stock traded down $0.57 on Friday, hitting $11.40. 668,844 shares of the company traded hands, compared to its average volume of 483,207. Tim S.A. has a 12-month low of $11.32 and a 12-month high of $19.14. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. The company has a market cap of $5.52 billion, a P/E ratio of 9.05, a P/E/G ratio of 0.57 and a beta of 0.83. The firm's 50-day simple moving average is $12.99 and its 200 day simple moving average is $14.74.

TIM (NYSE:TIMB - Get Free Report) last released 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). TIM had a net margin of 12.71% and a return on equity of 11.73%. The firm had revenue of $1.16 billion for the quarter. Analysts expect that Tim S.A. will post 1.2 earnings per share for the current fiscal year.

TIM Increases Dividend

The firm also recently declared 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. The ex-dividend date is Monday, December 30th. This is an increase from TIM's previous quarterly dividend of $0.09. This represents a $0.69 annualized dividend and a dividend yield of 6.04%. TIM's dividend payout ratio (DPR) is 53.97%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TIMB. The Goldman Sachs Group lowered their target price on shares of TIM from $16.20 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. Barclays lowered their price objective on TIM from $18.00 to $17.50 and set an "equal weight" rating on the stock in a research report on Tuesday, November 12th. Scotiabank reduced their target price on TIM from $24.80 to $23.20 and set a "sector outperform" rating for the company in a research report on Tuesday, November 5th. Finally, UBS Group cut TIM from a "buy" rating to a "neutral" rating in a report on Monday, December 9th.

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.