Point72 Asset Management L.P. Trims Stake in Tim S.A. (NYSE:TIMB)

Point72 Asset Management L.P. lowered its stake in shares of Tim S.A. (NYSE:TIMB - Free Report) by 92.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,000 shares of the company's stock after selling 77,543 shares during the period. Point72 Asset Management L.P.'s holdings in TIM were worth $71,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Itau Unibanco Holding S.A. boosted its stake in TIM by 64.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,769,904 shares of the company's stock worth $20,814,000 after buying an additional 696,454 shares during the period. Schroder Investment Management Group purchased a new stake in TIM in the fourth quarter worth about $5,666,000. Renaissance Technologies LLC increased its holdings in TIM by 19.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,718,588 shares of the company's stock valued at $20,211,000 after buying an additional 283,002 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of TIM by 8.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,932,973 shares of the company's stock valued at $22,732,000 after acquiring an additional 152,061 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of TIM by 278.8% in the 4th quarter. Marshall Wace LLP now owns 178,023 shares of the company's stock valued at $2,094,000 after buying an additional 131,023 shares in the last quarter.

TIM Price Performance

NYSE TIMB traded down $0.19 during mid-day trading on Friday, hitting $16.97. The stock had a trading volume of 253,934 shares, compared to its average volume of 501,582. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 0.67 and a beta of 0.62. Tim S.A. has a twelve month low of $11.32 and a twelve month high of $17.83. The firm's 50 day moving average is $16.18 and its 200 day moving average is $14.38. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $6.38 billion. TIM had a return on equity of 11.91% and a net margin of 12.24%. Equities research analysts forecast that Tim S.A. will post 1.34 earnings per share for the current fiscal year.

TIM Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.1086 per share. This represents a yield of 7.6%. The ex-dividend date of this dividend is Friday, May 23rd. TIM's dividend payout ratio (DPR) is 68.00%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. The Goldman Sachs Group boosted their target price on TIM from $15.30 to $16.90 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Barclays set a $17.50 target price on TIM in a report on Wednesday, May 7th. Finally, Scotiabank cut their price objective 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.

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.