Itau Unibanco Holding S.A. Acquires 696,454 Shares of Tim S.A. (NYSE:TIMB)

Itau Unibanco Holding S.A. increased its stake in shares of Tim S.A. (NYSE:TIMB - Free Report) by 64.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,769,904 shares of the company's stock after acquiring an additional 696,454 shares during the period. Itau Unibanco Holding S.A. owned about 0.37% of TIM worth $20,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TIMB. Arrowstreet Capital Limited Partnership raised its stake 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 purchasing an additional 152,061 shares during the period. Renaissance Technologies LLC raised its position in TIM by 19.7% in the 4th 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 last quarter. JPMorgan Chase & Co. boosted its holdings in TIM by 2.3% during the fourth quarter. JPMorgan Chase & Co. now owns 829,841 shares of the company's stock worth $9,759,000 after purchasing an additional 18,970 shares during the last quarter. Schroder Investment Management Group acquired a new stake in shares of TIM in the fourth quarter valued at about $5,666,000. Finally, American Century Companies Inc. raised its stake in shares of TIM by 5.5% during the 4th quarter. American Century Companies Inc. now owns 334,679 shares of the company's stock worth $3,936,000 after purchasing an additional 17,506 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective 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. Scotiabank decreased their price target 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, Barclays raised their target price on shares of TIM from $16.00 to $16.50 and gave the company an "equal weight" rating in a report on Monday, March 17th.

TIM Trading Up 5.8 %

Shares of NYSE:TIMB traded up $0.94 during mid-day trading on Tuesday, reaching $17.19. 138,019 shares of the company's stock were exchanged, compared to its average volume of 512,642. The business's fifty day moving average price is $15.21 and its 200-day moving average price is $14.03. Tim S.A. has a twelve month low of $11.32 and a twelve month high of $18.39. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 0.67 and a beta of 0.62. 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 announced its earnings results on Monday, May 5th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. TIM had a net margin of 12.24% and a return on equity of 11.91%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $6.38 billion. On average, research analysts predict that Tim S.A. will post 1.34 EPS for the current fiscal year.

TIM Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, October 30th. Investors of record on Friday, April 11th will be given a dividend of $0.2288 per share. This represents a dividend yield of 5.73%. The ex-dividend date of this dividend is Thursday, April 10th. This is an increase from TIM's previous dividend of $0.08. TIM's payout ratio is presently 65.25%.

About TIM

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.