Meritage Portfolio Management Sells 5,192 Shares of TIM S.A. Sponsored ADR $TIMB

Meritage Portfolio Management cut its holdings in TIM S.A. Sponsored ADR (NYSE:TIMB) by 2.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 189,218 shares of the company’s stock after selling 5,192 shares during the period. Meritage Portfolio Management’s holdings in TIM were worth $3,805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. lifted its stake in TIM by 10.8% in 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 in the last quarter. Goldman Sachs Group Inc. raised its position in shares of TIM by 4.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company’s stock worth $16,539,000 after buying an additional 47,130 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of TIM by 10.2% in the first quarter. Crossmark Global Holdings Inc. now owns 624,359 shares of the company’s stock worth $9,771,000 after buying an additional 57,562 shares in the last quarter. American Century Companies Inc. raised its position in shares of TIM by 5.3% in the first quarter. American Century Companies Inc. now owns 352,399 shares of the company’s stock worth $5,515,000 after buying an additional 17,720 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of TIM by 18.0% in the first quarter. Assetmark Inc. now owns 329,779 shares of the company’s stock worth $5,161,000 after buying an additional 50,370 shares in the last quarter.

TIM Trading Down 3.8%

Shares of TIMB opened at $20.53 on Friday. The firm’s 50-day moving average price is $21.08 and its 200-day moving average price is $18.73. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 0.79 and a beta of 0.65. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.54. TIM S.A. Sponsored ADR has a 1-year low of $11.32 and a 1-year high of $22.47.

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

TIM Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TIMB shares. JPMorgan Chase & Co. increased their price objective on TIM from $22.00 to $24.50 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Barclays lifted their target price on shares of TIM from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, October 6th. Scotiabank lifted their target price on shares of TIM from $19.10 to $23.60 and gave the stock a “sector outperform” rating in a research report on Thursday, July 31st. Citigroup started coverage on shares of TIM in a research note on Wednesday, September 10th. They set a “buy” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TIM in a research note on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, TIM currently has an average rating of “Hold” and a consensus target price of $21.50.

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.