Virtus Investment Advisers LLC Has $178,000 Holdings in TIM S.A. Sponsored ADR $TIMB

Virtus Investment Advisers LLC lessened its holdings in shares of TIM S.A. Sponsored ADR (NYSE:TIMB) by 27.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,852 shares of the company’s stock after selling 3,405 shares during the quarter. Virtus Investment Advisers LLC’s holdings in TIM were worth $178,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. grew its position in TIM by 10.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 3,482,294 shares of the company’s stock valued at $70,029,000 after purchasing an additional 339,384 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of TIM by 4.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company’s stock valued at $16,539,000 after acquiring an additional 47,130 shares in the last quarter. American Century Companies Inc. increased its stake in shares of TIM by 26.4% in the second quarter. American Century Companies Inc. now owns 445,578 shares of the company’s stock worth $8,961,000 after acquiring an additional 93,179 shares during the last quarter. Assetmark Inc. raised its holdings in shares of TIM by 15.3% during the second quarter. Assetmark Inc. now owns 380,158 shares of the company’s stock worth $7,645,000 after acquiring an additional 50,379 shares in the last quarter. Finally, Banco BTG Pactual S.A. grew its stake in TIM by 1,302.9% in the first quarter. Banco BTG Pactual S.A. now owns 260,933 shares of the company’s stock valued at $4,084,000 after purchasing an additional 242,333 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TIMB. Zacks Research raised TIM from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Barclays increased their price objective on TIM from $21.00 to $23.50 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Wall Street Zen raised shares of TIM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 20th. Weiss Ratings restated a “hold (c+)” rating on shares of TIM in a research note on Monday, November 24th. Finally, Hsbc Global Res raised shares of TIM from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.10.

TIM Price Performance

NYSE TIMB opened at $23.48 on Friday. The stock has a 50-day simple moving average of $22.39 and a 200 day simple moving average of $20.42. TIM S.A. Sponsored ADR has a twelve month low of $11.32 and a twelve month high of $23.88. The stock has a market capitalization of $11.37 billion, a PE ratio of 18.20, a P/E/G ratio of 0.88 and a beta of 0.62. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.88 and a current ratio of 0.91.

TIM (NYSE:TIMB) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.36 by $0.10. TIM had a return on equity of 13.99% and a net margin of 13.91%.The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.21 billion. Research analysts anticipate that TIM S.A. Sponsored ADR will post 1.34 EPS for the current year.

TIM Announces Dividend

The business also recently declared a special dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Friday, October 3rd will be given a $0.1888 dividend. The ex-dividend date is Friday, October 3rd. TIM’s dividend payout ratio (DPR) is currently 65.07%.

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.