Rhumbline Advisers Decreases Position in TIM S.A. Sponsored ADR (NYSE:TIMB)

Rhumbline Advisers cut its holdings in TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 75.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,601 shares of the company's stock after selling 14,025 shares during the quarter. Rhumbline Advisers' holdings in TIM were worth $72,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. raised its position in shares of 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 purchasing an additional 696,454 shares during the period. Schroder Investment Management Group bought a new stake in shares of TIM in the fourth quarter valued at $5,666,000. Renaissance Technologies LLC boosted its position in TIM by 19.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,718,588 shares of the company's stock worth $20,211,000 after purchasing an additional 283,002 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of TIM by 8.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,932,973 shares of the company's stock worth $22,732,000 after acquiring an additional 152,061 shares during the period. Finally, Marshall Wace LLP grew its holdings in TIM by 278.8% during 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TIMB. Barclays set a $17.50 price objective on TIM in a research report on Wednesday, May 7th. Hsbc Global Res lowered shares of TIM from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 12th. Wall Street Zen cut shares of TIM from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 15th. The Goldman Sachs Group upped their price target on shares of TIM from $15.30 to $16.90 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, HSBC lowered TIM to a "hold" rating in a research report on Friday, June 13th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $17.33.

TIM Stock Down 0.5%

NYSE:TIMB traded down $0.10 during trading hours on Friday, reaching $19.47. The company's stock had a trading volume of 322,224 shares, compared to its average volume of 515,457. The stock has a 50 day moving average price of $17.51 and a two-hundred day moving average price of $15.04. TIM S.A. Sponsored ADR has a 12 month low of $11.32 and a 12 month high of $19.73. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.86 and a current ratio of 0.88. The company has a market capitalization of $9.42 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60.

TIM (NYSE:TIMB - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $6.38 billion. TIM had a return on equity of 13.17% and a net margin of 13.30%. Equities analysts predict that TIM S.A. Sponsored ADR will post 1.34 EPS for the current fiscal year.

TIM Announces Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, July 30th. Investors of record on Friday, May 23rd will be given a dividend of $0.1086 per share. This represents a dividend yield of 7.6%. The ex-dividend date is Friday, May 23rd. TIM's payout ratio is 68.80%.

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.