Summit Global Investments Sells 207,741 Shares of Tim S.A. (NYSE:TIMB)

Summit Global Investments cut its position in Tim S.A. (NYSE:TIMB - Free Report) by 79.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,120 shares of the company's stock after selling 207,741 shares during the quarter. Summit Global Investments' holdings in TIM were worth $613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP grew its stake in shares of TIM by 90.2% in the third quarter. Quantbot Technologies LP now owns 38,840 shares of the company's stock valued at $669,000 after acquiring an additional 18,418 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of TIM during the 3rd quarter worth approximately $12,054,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in TIM in the third quarter valued at approximately $25,000. Itau Unibanco Holding S.A. increased its stake in TIM by 55.8% in the third quarter. Itau Unibanco Holding S.A. now owns 1,073,450 shares of the company's stock valued at $18,485,000 after acquiring an additional 384,500 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in TIM by 57.4% during the third quarter. Point72 Asset Management L.P. now owns 83,543 shares of the company's stock valued at $1,439,000 after purchasing an additional 30,482 shares in the last quarter.

TIM Trading Up 1.1 %

TIM stock traded up $0.18 during trading hours on Thursday, hitting $15.58. The stock had a trading volume of 462,986 shares, compared to its average volume of 491,871. The business's 50 day simple moving average is $14.13 and its 200-day simple moving average is $14.20. Tim S.A. has a one year low of $11.32 and a one year high of $18.78. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.67 and a beta of 0.84. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.52.

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TIM (NYSE:TIMB - Get Free Report) last posted its earnings results 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 return on equity of 11.91% and a net margin of 12.24%. On average, equities analysts predict 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 Wednesday, May 7th. Shareholders of record on Friday, April 4th will be given a $0.1394 dividend. This represents a dividend yield of 6%. The ex-dividend date is Friday, April 4th. This is a positive change from TIM's previous -- dividend of $0.12. TIM's payout ratio is 51.69%.

Analyst Ratings Changes

Several brokerages have recently issued reports on TIMB. The Goldman Sachs Group decreased their price target on TIM from $16.20 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. Scotiabank dropped their target price on shares of TIM from $23.20 to $17.60 and set a "sector outperform" rating for the company in a report on Wednesday, February 12th. UBS Group cut shares of TIM from a "buy" rating to a "neutral" rating in a research report on Monday, December 9th. Finally, Barclays increased their price objective on shares of TIM from $16.00 to $16.50 and gave the company an "equal weight" rating in a research note on Monday, March 17th.

TIM Company 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.