Sumitomo Mitsui Trust Group Inc. Sells 23,000 Shares of TIM S.A. Sponsored ADR (NYSE:TIMB)

Sumitomo Mitsui Trust Group Inc. lessened its position in TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 17.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 109,198 shares of the company's stock after selling 23,000 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in TIM were worth $1,709,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in TIM by 26.2% in the 1st quarter. Blue Trust Inc. now owns 7,687 shares of the company's stock worth $120,000 after acquiring an additional 1,597 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of TIM by 43.3% in the 1st quarter. Ritholtz Wealth Management now owns 97,026 shares of the company's stock worth $1,518,000 after purchasing an additional 29,302 shares during the period. GAMMA Investing LLC lifted its position in shares of TIM by 119.3% in the 1st quarter. GAMMA Investing LLC now owns 3,028 shares of the company's stock worth $47,000 after purchasing an additional 1,647 shares during the period. Farther Finance Advisors LLC lifted its position in shares of TIM by 30,036.4% in the 1st quarter. Farther Finance Advisors LLC now owns 3,315 shares of the company's stock worth $53,000 after purchasing an additional 3,304 shares during the period. Finally, Vise Technologies Inc. purchased a new stake in shares of TIM in the 4th quarter worth about $200,000.

Wall Street Analyst Weigh In

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

TIM Stock Up 2.3%

Shares of TIM stock opened at $20.63 on Friday. 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 stock has a market capitalization of $9.99 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. TIM S.A. Sponsored ADR has a 52-week low of $11.32 and a 52-week high of $20.78. The company has a 50-day simple moving average of $18.04 and a two-hundred day simple moving average of $15.35.

TIM (NYSE:TIMB - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. TIM had a net margin of 13.30% and a return on equity of 13.17%. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $6.38 billion. On average, analysts anticipate that TIM S.A. Sponsored ADR will post 1.34 EPS for the current fiscal year.

TIM Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Friday, May 23rd will be paid a $0.1086 dividend. The ex-dividend date is Friday, May 23rd. This represents a dividend yield of 7.6%. TIM's dividend payout ratio is presently 61.60%.

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.

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