Public Employees Retirement System of Ohio cut its holdings in TIM S.A. Sponsored ADR (NYSE:TIMB – Free Report) by 88.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,047 shares of the company’s stock after selling 40,293 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in TIM were worth $134,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Inspire Investing LLC raised its stake in shares of TIM by 10.1% in the first quarter. Inspire Investing LLC now owns 4,191 shares of the company’s stock worth $111,000 after acquiring an additional 386 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of TIM by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock valued at $27,000 after purchasing an additional 494 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of TIM by 23.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,619 shares of the company’s stock valued at $51,000 after purchasing an additional 504 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of TIM by 5.2% in the fourth quarter. NewEdge Advisors LLC now owns 14,551 shares of the company’s stock valued at $283,000 after purchasing an additional 714 shares in the last quarter. Finally, DGS Capital Management LLC raised its position in TIM by 1.9% in the 1st quarter. DGS Capital Management LLC now owns 40,919 shares of the company’s stock worth $1,084,000 after purchasing an additional 753 shares during the last quarter.
Insider Transactions at TIM
In other TIM news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $4.32, for a total value of $151,200.00. Following the completion of the sale, the chief financial officer directly owned 83,259 shares in the company, valued at $359,678.88. This represents a 29.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Auana Mattar Lima sold 8,200 shares of TIM stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $4.42, for a total value of $36,244.00. Following the transaction, the insider owned 36,686 shares in the company, valued at $162,152.12. This trade represents a 18.27% decrease in their position. The disclosure for this sale is available in the SEC filing.
TIM Trading Down 0.1%
TIM (NYSE:TIMB – Get Free Report) last announced its quarterly earnings results on Wednesday, June 17th. The company reported $0.42 EPS for the quarter. TIM had a return on equity of 17.99% and a net margin of 15.73%. On average, equities analysts expect that TIM S.A. Sponsored ADR will post 1.83 earnings per share for the current year.
TIM Announces Dividend
The firm also recently announced a special dividend, which was paid on Wednesday, July 29th. Shareholders of record on Monday, June 29th were issued a dividend of $0.1618 per share. The ex-dividend date was Monday, June 29th. TIM’s payout ratio is currently 60.95%.
Analyst Ratings Changes
TIMB has been the topic of several research reports. Bradesco Corretora downgraded TIM to a “neutral” rating in a report on Tuesday, April 28th. The Goldman Sachs Group began coverage on TIM in a report on Monday, May 18th. They issued a “neutral” rating and a $23.40 price target on the stock. Weiss Ratings cut TIM from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 26th. Wall Street Zen downgraded shares of TIM from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 25th. Finally, Zacks Research cut shares of TIM from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.23.
Check Out Our Latest Stock Analysis on TIM
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
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