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

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

A number of other hedge funds and other institutional investors have also bought and sold shares of TIMB. Ritholtz Wealth Management increased its holdings in TIM by 0.3% in 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 grew its holdings in shares of TIM by 4.4% during the third quarter. Kathmere Capital Management LLC now owns 14,761 shares of the company’s stock worth $329,000 after purchasing an additional 627 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of 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 last quarter. TD Waterhouse Canada Inc. increased its stake in shares of TIM by 2.7% in 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 period. Finally, Altman Advisors Inc. increased its stake in shares of TIM by 0.7% in the third quarter. Altman Advisors Inc. now owns 121,304 shares of the company’s stock valued at $2,708,000 after buying an additional 874 shares during the period.

Analysts Set New Price Targets

TIMB has been the topic of several recent research reports. Citigroup downgraded shares of TIM from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Bank of America initiated coverage on shares of TIM in a research report on Thursday, December 11th. They issued an “underperform” rating and a $24.00 price target for the company. Barclays lifted their price target on shares of TIM from $23.50 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Finally, Weiss Ratings raised shares of 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 assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

TIM Price Performance

Shares of TIMB opened at $25.50 on Friday. The business has a 50-day moving average of $25.23 and a 200-day moving average of $22.94. 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 company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 0.65 and a beta of 0.46. TIM S.A. Sponsored ADR has a 1 year low of $14.18 and a 1 year high of $27.74.

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

TIM Dividend Announcement

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

TIM Company 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