JPMorgan Chase & Co. Acquires 38,649 Shares of TIM S.A. Sponsored ADR $TIMB

JPMorgan Chase & Co. increased its holdings in TIM S.A. Sponsored ADR (NYSE:TIMB) by 9.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 448,722 shares of the company’s stock after acquiring an additional 38,649 shares during the period. JPMorgan Chase & Co. owned about 0.09% of TIM worth $10,015,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TIMB. Ritholtz Wealth Management increased its holdings in TIM by 0.3% during the 3rd quarter. Ritholtz Wealth Management now owns 150,793 shares of the company’s stock worth $3,366,000 after purchasing an additional 441 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of TIM by 4.4% in the third quarter. Kathmere Capital Management LLC now owns 14,761 shares of the company’s stock valued at $329,000 after purchasing an additional 627 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of TIM by 1.3% in the first quarter. Royal Bank of Canada now owns 62,008 shares of the company’s stock valued at $970,000 after purchasing an additional 789 shares in the last quarter. TD Waterhouse Canada Inc. boosted its position in shares of TIM by 2.7% during the third quarter. TD Waterhouse Canada Inc. now owns 30,747 shares of the company’s stock valued at $678,000 after buying an additional 810 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of TIM by 5,590.5% during the third quarter. Global Retirement Partners LLC now owns 1,195 shares of the company’s stock valued at $27,000 after buying an additional 1,174 shares during the last quarter.

TIM Trading Down 0.3%

Shares of TIM stock opened at $25.48 on Friday. The firm has a market cap of $12.34 billion, a PE ratio of 15.93, a P/E/G ratio of 0.66 and a beta of 0.46. TIM S.A. Sponsored ADR has a 1 year low of $14.09 and a 1 year high of $27.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.89 and a quick ratio of 0.86. The stock has a fifty day moving average price of $23.64 and a 200-day moving average price of $22.44.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.38). TIM had a net margin of 16.28% and a return on equity of 17.84%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.30 billion. Equities research analysts anticipate that TIM S.A. Sponsored ADR will post 1.34 EPS for the current year.

TIM Dividend Announcement

The business also recently announced a special dividend, which was paid on Wednesday, January 7th. Stockholders of record on Monday, December 29th were given a dividend of $0.6784 per share. The ex-dividend date of this dividend was Monday, December 29th. TIM’s dividend payout ratio is currently 84.38%.

Analysts Set New Price Targets

A number of research firms recently commented on TIMB. Barclays increased their price target on TIM from $23.50 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Bank of America initiated coverage on shares of TIM in a research note on Thursday, December 11th. They issued an “underperform” rating and a $24.00 target price for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of TIM in a report on Monday, December 29th. Citigroup lowered shares of TIM from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group cut shares of TIM from a “buy” rating to a “hold” rating in a report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.67.

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA