Sequoia Financial Advisors LLC Invests $387,000 in TIM S.A. Sponsored ADR $TIMB

Sequoia Financial Advisors LLC purchased a new position in TIM S.A. Sponsored ADR (NYSE:TIMB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,249 shares of the company’s stock, valued at approximately $387,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC raised its holdings in shares of TIM by 18.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,268 shares of the company’s stock worth $389,000 after buying an additional 3,016 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in TIM by 7.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,658 shares of the company’s stock worth $174,000 after purchasing an additional 623 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in TIM by 10.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,482,294 shares of the company’s stock worth $70,029,000 after purchasing an additional 339,384 shares during the period. Kathmere Capital Management LLC purchased a new position in TIM during the 2nd quarter worth $284,000. Finally, Ballentine Partners LLC purchased a new position in TIM during the 2nd quarter worth $387,000.

TIM Stock Down 1.4%

Shares of NYSE TIMB opened at $21.86 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $10.58 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 0.84 and a beta of 0.65. The stock’s fifty day simple moving average is $21.26 and its two-hundred day simple moving average is $19.00. TIM S.A. Sponsored ADR has a 12-month low of $11.32 and a 12-month high of $22.47.

TIM (NYSE:TIMB) last announced its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $6.62 billion. TIM had a return on equity of 13.99% and a net margin of 13.91%. As a group, analysts expect that TIM S.A. Sponsored ADR will post 1.34 EPS for the current fiscal year.

TIM Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Friday, October 3rd will be given a $0.1888 dividend. The ex-dividend date of this dividend is Friday, October 3rd. TIM’s dividend payout ratio (DPR) is presently 72.09%.

Wall Street Analyst Weigh In

Several research firms have commented on TIMB. Scotiabank raised their price objective on TIM from $19.10 to $23.60 and gave the stock a “sector outperform” rating in a report on Thursday, July 31st. Wall Street Zen upgraded TIM from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 20th. JPMorgan Chase & Co. raised their price objective on TIM from $22.00 to $24.50 and gave the stock an “overweight” rating in a report on Friday, August 8th. Citigroup began coverage on TIM in a report on Wednesday, September 10th. They set a “buy” rating on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of TIM in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

About TIM

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.