State Street Corp Has $10.21 Million Stock Holdings in Tim S.A. (NYSE:TIMB)

State Street Corp raised its position in Tim S.A. (NYSE:TIMB - Free Report) by 16.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 583,724 shares of the company's stock after acquiring an additional 83,468 shares during the quarter. State Street Corp's holdings in TIM were worth $10,207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TIMB. EverSource Wealth Advisors LLC boosted its stake in shares of TIM by 108.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company's stock worth $25,000 after acquiring an additional 835 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in TIM during the third quarter worth $25,000. Inspire Advisors LLC acquired a new position in shares of TIM in the third quarter valued at $173,000. XTX Topco Ltd raised its position in shares of TIM by 26.1% in the second quarter. XTX Topco Ltd now owns 13,264 shares of the company's stock valued at $190,000 after purchasing an additional 2,746 shares during the period. Finally, Caprock Group LLC acquired a new stake in shares of TIM during the 2nd quarter worth about $202,000.

TIM Trading Up 0.3 %

Shares of TIM stock traded up $0.04 on Friday, hitting $11.85. The stock had a trading volume of 463,611 shares, compared to its average volume of 479,582. The stock has a 50 day moving average of $13.58 and a 200 day moving average of $14.94. The firm has a market capitalization of $5.74 billion, a P/E ratio of 9.40, a PEG ratio of 0.57 and a beta of 0.84. Tim S.A. has a twelve month low of $11.65 and a twelve month high of $19.14. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.09). The business had revenue of $1.16 billion during the quarter. TIM had a return on equity of 11.73% and a net margin of 12.71%. Sell-side analysts expect that Tim S.A. will post 1.2 earnings per share for the current fiscal year.

TIM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Monday, December 30th will be given a $0.1723 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.81%. This is an increase from TIM's previous quarterly dividend of $0.09. TIM's payout ratio is 53.97%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. The Goldman Sachs Group decreased their price objective on TIM from $16.20 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, December 19th. Scotiabank lowered their price target on shares of TIM from $24.80 to $23.20 and set a "sector outperform" rating on the stock in a research report on Tuesday, November 5th. Barclays dropped their price objective on shares of TIM from $18.00 to $17.50 and set an "equal weight" rating for the company in a research note on Tuesday, November 12th. Finally, UBS Group lowered shares of TIM from a "buy" rating to a "neutral" rating in a research report 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.