Ballentine Partners LLC Purchases New Holdings in TIM S.A. Sponsored ADR $TIMB

Key Points

• Ballentine Partners LLC acquired a new stake in TIM S.A. Sponsored ADR, purchasing 19,224 shares valued at approximately $387,000.
• Several institutional investors, including Banco BTG Pactual S.A. and Goldman Sachs Group Inc., significantly increased their stakes in TIM, indicating a growing interest in the company.
• The recent analyst upgrades include Barclays raising the price objective to $20.00 and Wall Street Zen upgrading the stock to a "strong-buy" rating.

Ballentine Partners LLC purchased a new stake in shares of TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,224 shares of the company's stock, valued at approximately $387,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TIMB. Banco BTG Pactual S.A. increased its stake in TIM by 1,302.9% during the first quarter. Banco BTG Pactual S.A. now owns 260,933 shares of the company's stock valued at $4,084,000 after acquiring an additional 242,333 shares during the period. Altman Advisors Inc. bought a new position in TIM during the first quarter valued at about $1,979,000. Crossmark Global Holdings Inc. grew its stake in shares of TIM by 10.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 624,359 shares of the company's stock valued at $9,771,000 after purchasing an additional 57,562 shares during the period. Assetmark Inc. grew its stake in shares of TIM by 18.0% in the 1st quarter. Assetmark Inc. now owns 329,779 shares of the company's stock valued at $5,161,000 after purchasing an additional 50,370 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of TIM by 4.7% in the 1st 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 period.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TIMB. Barclays upped their price objective on TIM from $17.50 to $20.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Citigroup began coverage on TIM in a research note on Wednesday, September 10th. They issued a "buy" rating on the stock. Wall Street Zen upgraded TIM from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 20th. Scotiabank upped their price objective on TIM from $19.10 to $23.60 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Finally, HSBC lowered TIM to a "hold" rating in a research report on Friday, June 13th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $21.25.

TIM Price Performance

TIMB opened at $21.49 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.54. TIM S.A. Sponsored ADR has a 12 month low of $11.32 and a 12 month high of $22.08. The company has a fifty day simple moving average of $20.37 and a 200 day simple moving average of $18.27. The stock has a market cap of $10.40 billion, a P/E ratio of 16.66, a P/E/G ratio of 0.85 and a beta of 0.69.

TIM (NYSE:TIMB - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 EPS 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 business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $6.62 billion. On average, research analysts expect that TIM S.A. Sponsored ADR will post 1.34 EPS for the current year.

TIM Dividend Announcement

The company also recently announced a special dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.1888 per share. The ex-dividend date is Friday, October 3rd. TIM's dividend payout ratio is 67.44%.

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.

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