Summit Global Investments Reduces Holdings in Tim S.A. (NYSE:TIMB)

Summit Global Investments decreased its holdings in Tim S.A. (NYSE:TIMB) by 79.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of TIM during the 3rd quarter worth $25,000. Global Retirement Partners LLC lifted its position in TIM by 1,005.0% during the fourth quarter. Global Retirement Partners LLC now owns 2,431 shares of the company’s stock valued at $29,000 after purchasing an additional 2,211 shares in the last quarter. R Squared Ltd purchased a new position in TIM during the fourth quarter valued at $53,000. Aprio Wealth Management LLC purchased a new position in shares of TIM during the 4th quarter valued at about $194,000. Finally, Jane Street Group LLC purchased a new position in shares of TIM during the 3rd quarter valued at about $215,000.

TIM Stock Up 1.0 %

NYSE TIMB opened at $15.12 on Monday. The stock’s 50 day moving average is $13.93 and its 200 day moving average is $14.21. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. Tim S.A. has a 12 month low of $11.32 and a 12 month high of $18.78. The stock has a market cap of $7.32 billion, a PE ratio of 12.81, a P/E/G ratio of 0.67 and a beta of 0.84.

TIM (NYSE:TIMB) last released its earnings results on Tuesday, February 11th. The company reported $0.37 EPS 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%. Research analysts predict that Tim S.A. will post 1.34 EPS for the current fiscal year.

TIM Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Friday, February 21st will be paid a $0.0717 dividend. This represents a $0.29 annualized dividend and a yield of 1.90%. The ex-dividend date is Friday, February 21st. TIM’s payout ratio is currently 51.69%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TIMB shares. Barclays lifted their price objective on TIM from $16.00 to $16.50 and gave the company an “equal weight” rating in a research report on Monday, March 17th. UBS Group downgraded shares of TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Scotiabank lowered their target price on shares of TIM from $23.20 to $17.60 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 12th. Finally, 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.

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.