TIM S.A. Sponsored ADR $TIMB Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in shares of TIM S.A. Sponsored ADR (NYSE:TIMB) by 55.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 135,167 shares of the company’s stock after purchasing an additional 48,232 shares during the period. Hsbc Holdings PLC’s holdings in TIM were worth $3,578,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in shares of TIM by 4.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,848,386 shares of the company’s stock valued at $35,951,000 after purchasing an additional 82,700 shares in the last quarter. Goldman Sachs Group Inc. grew 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 valued at $16,539,000 after purchasing an additional 47,130 shares during the last quarter. State Street Corp increased its stake in shares of TIM by 5.3% during the 4th quarter. State Street Corp now owns 657,839 shares of the company’s stock worth $13,464,000 after purchasing an additional 33,364 shares in the last quarter. UBS Group AG increased its stake in shares of TIM by 12.4% during the 4th quarter. UBS Group AG now owns 537,416 shares of the company’s stock worth $10,453,000 after purchasing an additional 59,136 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of TIM by 2.2% during the 3rd quarter. Schroder Investment Management Group now owns 449,225 shares of the company’s stock worth $9,860,000 after purchasing an additional 9,879 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts recently issued reports on TIMB shares. New Street Research upgraded TIM from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 7th. The Goldman Sachs Group started coverage on TIM in a research report on Monday, May 18th. They set a “neutral” rating and a $23.40 price target for the company. Wall Street Zen downgraded TIM from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 25th. Scotiabank boosted their price target on TIM from $27.00 to $28.50 and gave the stock a “sector perform” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings downgraded TIM from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.23.

Insider Activity at TIM

In other TIM news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $4.32, for a total transaction of $151,200.00. Following the transaction, the chief financial officer owned 83,259 shares of the company’s stock, valued at $359,678.88. This represents a 29.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Auana Mattar Lima sold 8,200 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $4.42, for a total value of $36,244.00. Following the transaction, the insider directly owned 36,686 shares in the company, valued at approximately $162,152.12. This represents a 18.27% decrease in their position. The SEC filing for this sale provides additional information.

TIM Price Performance

TIM stock opened at $21.29 on Friday. The stock has a market capitalization of $10.31 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.09 and a beta of 0.38. TIM S.A. Sponsored ADR has a 12-month low of $17.65 and a 12-month high of $28.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.89. The firm’s 50-day moving average is $21.85 and its two-hundred day moving average is $23.84.

TIM (NYSE:TIMB) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.32 billion. TIM had a net margin of 16.00% and a return on equity of 17.77%. Equities analysts predict that TIM S.A. Sponsored ADR will post 1.8 earnings per share for the current year.

TIM Dividend Announcement

The company also recently announced a special dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, June 29th will be paid a $0.1618 dividend. The ex-dividend date of this dividend is Monday, June 29th. TIM’s payout ratio is presently 68.90%.

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA