36,235 TIM S.A. Sponsored ADR $TIMB Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. trimmed its stake in TIM S.A. Sponsored ADR (NYSE:TIMB) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 581,474 shares of the company’s stock after selling 36,235 shares during the period. Crossmark Global Holdings Inc.’s holdings in TIM were worth $10,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in shares of TIM during the 2nd quarter worth about $25,000. Eastern Bank bought a new stake in shares of TIM in the second quarter valued at about $34,000. Integrated Wealth Concepts LLC acquired a new stake in TIM during the second quarter worth about $56,000. Inspire Investing LLC increased its stake in TIM by 10.1% during the first quarter. Inspire Investing LLC now owns 4,191 shares of the company’s stock valued at $111,000 after acquiring an additional 386 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in TIM by 73.5% during the first quarter. EverSource Wealth Advisors LLC now owns 4,544 shares of the company’s stock valued at $120,000 after acquiring an additional 1,925 shares during the period.

TIM Stock Performance

NYSE TIMB opened at $19.47 on Friday. The stock has a market cap of $9.32 billion, a P/E ratio of 11.52, a PEG ratio of 1.77 and a beta of 0.33. The company’s 50-day simple moving average is $18.38 and its 200 day simple moving average is $21.06. TIM S.A. Sponsored ADR has a twelve month low of $17.14 and a twelve month high of $28.22. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.55.

TIM (NYSE:TIMB) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $0.42 earnings per share (EPS) for the quarter. The firm had revenue of $1.35 billion during the quarter. TIM had a net margin of 15.73% and a return on equity of 17.99%. As a group, research analysts forecast that TIM S.A. Sponsored ADR will post 1.82 earnings per share for the current fiscal year.

TIM Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, January 29th. Shareholders of record on Monday, September 28th will be issued a dividend of $0.2102 per share. The ex-dividend date of this dividend is Monday, September 28th. TIM’s payout ratio is presently 62.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TIMB shares. Barclays cut their price target on TIM from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Weiss Ratings raised TIM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Wall Street Zen lowered TIM from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Bank of America upgraded TIM from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 13th. Finally, Morgan Stanley restated a “market perform” rating and issued a $22.00 target price on shares of TIM in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.82.

TIM Profile

TIM SA is a Brazilian telecommunications company that provides mobile and fixed-line communications services to consumers, businesses and public-sector customers. Its offerings include voice and data plans, mobile internet, broadband connectivity and related digital services.

The company operates a nationwide wireless network, including 4G and 5G services, and provides connectivity solutions for corporate and institutional customers. Its business portfolio also includes Internet of Things applications, managed connectivity and other digital and technology services.

TIM traces its Brazilian operations to the late 1990s and has developed into one of the country’s major mobile operators.