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

JPMorgan Chase & Co. boosted its position in TIM S.A. Sponsored ADR (NYSE:TIMB) by 9.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 448,722 shares of the company’s stock after purchasing an additional 38,649 shares during the period. JPMorgan Chase & Co.’s holdings in TIM were worth $10,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. increased its holdings in TIM by 1.0% in the 3rd quarter. Assetmark Inc. now owns 384,034 shares of the company’s stock worth $8,572,000 after acquiring an additional 3,876 shares during the last quarter. Caprock Group LLC purchased a new stake in TIM during the third quarter valued at about $866,000. Savant Capital LLC purchased a new stake in TIM during the third quarter valued at about $204,000. Envestnet Asset Management Inc. boosted its position in TIM by 92.7% during the third quarter. Envestnet Asset Management Inc. now owns 40,217 shares of the company’s stock worth $898,000 after purchasing an additional 19,346 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of TIM by 196.4% in the third quarter. Hantz Financial Services Inc. now owns 6,117 shares of the company’s stock worth $137,000 after purchasing an additional 4,053 shares in the last quarter.

TIM Price Performance

Shares of NYSE TIMB opened at $25.48 on Friday. The stock’s 50-day simple moving average is $23.64 and its two-hundred day simple moving average is $22.44. TIM S.A. Sponsored ADR has a twelve month low of $14.09 and a twelve month high of $27.74. The firm has a market capitalization of $12.34 billion, a P/E ratio of 15.93, a P/E/G ratio of 0.66 and a beta of 0.46. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.58.

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

TIM Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on TIMB. Citigroup cut shares of TIM from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Barclays lifted 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. Weiss Ratings restated a “hold (c+)” rating on shares of TIM in a research note on Monday, December 29th. Jefferies Financial Group cut TIM from a “buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, Bank of America initiated coverage on shares of TIM in a report on Thursday, December 11th. They issued an “underperform” rating and a $24.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to 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