Millennium Management LLC Increases Stock Position in Tim S.A. (NYSE:TIMB)

Millennium Management LLC boosted its position in Tim S.A. (NYSE:TIMB - Free Report) by 16.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 923,532 shares of the company's stock after purchasing an additional 127,465 shares during the period. Millennium Management LLC owned about 0.19% of TIM worth $13,225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TIMB. EverSource Wealth Advisors LLC lifted its holdings in shares of TIM by 108.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company's stock valued at $25,000 after purchasing an additional 835 shares in the last quarter. CWM LLC raised its holdings in shares of TIM by 105.7% in the second quarter. CWM LLC now owns 2,471 shares of the company's stock worth $35,000 after acquiring an additional 1,270 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in shares of TIM in the first quarter valued at $54,000. Headlands Technologies LLC purchased a new stake in TIM during the 1st quarter worth about $59,000. Finally, Barometer Capital Management Inc. acquired a new stake in shares of TIM during the 4th quarter worth about $118,000.

TIM Trading Down 2.2 %

NYSE:TIMB traded down $0.36 during trading hours on Monday, reaching $15.95. 303,926 shares of the company were exchanged, compared to its average volume of 460,013. Tim S.A. has a 52-week low of $13.84 and a 52-week high of $19.14. The stock has a 50 day simple moving average of $16.32 and a 200 day simple moving average of $16.17. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.73 and a beta of 0.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.88 and a quick ratio of 0.85.

TIM (NYSE:TIMB - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.31 earnings per share (EPS) for the quarter. The firm had revenue of $1.21 billion during the quarter. TIM had a return on equity of 11.47% and a net margin of 12.53%. As a group, analysts predict 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. Shareholders of record on Monday, September 30th will be given a dividend of $0.088 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.35 dividend on an annualized basis and a yield of 2.21%. TIM's dividend payout ratio (DPR) is 28.46%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TIMB shares. Barclays decreased their target price on shares of TIM from $19.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Friday, August 2nd. Scotiabank raised TIM from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $17.50 to $24.80 in a research report on Friday, September 20th.

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.