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

JPMorgan Chase & Co. raised its stake in TIM S.A. Sponsored ADR (NYSE:TIMB) by 9.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 448,722 shares of the company’s stock after acquiring an additional 38,649 shares during the period. JPMorgan Chase & Co. owned approximately 0.09% of TIM worth $10,015,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TIMB. Ritholtz Wealth Management increased its position in shares of TIM by 0.3% in the third quarter. Ritholtz Wealth Management now owns 150,793 shares of the company’s stock worth $3,366,000 after purchasing an additional 441 shares during the period. Kathmere Capital Management LLC raised its stake in 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 position in TIM by 1.3% during the first quarter. Royal Bank of Canada now owns 62,008 shares of the company’s stock worth $970,000 after purchasing an additional 789 shares during the period. TD Waterhouse Canada Inc. lifted its position in TIM by 2.7% during the third quarter. TD Waterhouse Canada Inc. now owns 30,747 shares of the company’s stock worth $678,000 after purchasing an additional 810 shares during the period. Finally, Altman Advisors Inc. grew its stake in TIM by 0.7% during the third quarter. Altman Advisors Inc. now owns 121,304 shares of the company’s stock worth $2,708,000 after buying an additional 874 shares in the last quarter.

Analysts Set New Price Targets

TIMB has been the subject of several analyst reports. Barclays boosted their target price on shares of TIM from $23.50 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Citigroup cut shares of TIM from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Bank of America assumed coverage on shares of TIM in a research report on Thursday, December 11th. They set an “underperform” rating and a $24.00 price objective for the company. Finally, Weiss Ratings upgraded TIM from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

TIM Stock Performance

TIM stock opened at $25.50 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.58. The stock has a market cap of $12.34 billion, a PE ratio of 15.94, a P/E/G ratio of 0.65 and a beta of 0.46. TIM S.A. Sponsored ADR has a 12-month low of $14.18 and a 12-month high of $27.74. The business’s 50-day moving average price is $25.23 and its two-hundred day moving average price is $22.94.

TIM (NYSE:TIMB) last posted its earnings results on Tuesday, February 10th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.30 billion. TIM had a net margin of 16.28% and a return on equity of 17.84%. As a group, analysts expect that TIM S.A. Sponsored ADR will post 1.34 earnings per share for the current fiscal year.

TIM Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, May 7th. Investors of record on Monday, March 30th will be paid a $0.1552 dividend. The ex-dividend date of this dividend is Monday, March 30th. TIM’s dividend payout ratio is presently 84.38%.

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