Bank of America Corp DE Acquires 167,504 Shares of TIM S.A. Sponsored ADR $TIMB

Bank of America Corp DE grew its stake in shares of TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 199.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,330 shares of the company's stock after buying an additional 167,504 shares during the period. Bank of America Corp DE owned 0.05% of TIM worth $6,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in shares of TIM in the fourth quarter worth about $836,000. Hsbc Holdings PLC lifted its holdings in TIM by 55.5% during the 1st quarter. Hsbc Holdings PLC now owns 135,167 shares of the company's stock valued at $3,578,000 after buying an additional 48,232 shares in the last quarter. UBS Group AG lifted its holdings in TIM by 12.4% during the 4th quarter. UBS Group AG now owns 537,416 shares of the company's stock valued at $10,453,000 after buying an additional 59,136 shares in the last quarter. Assetmark Inc. boosted its position in TIM by 19.0% in the 1st quarter. Assetmark Inc. now owns 490,478 shares of the company's stock valued at $12,993,000 after buying an additional 78,379 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in TIM by 129.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 62,279 shares of the company's stock valued at $1,211,000 after buying an additional 35,192 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TIMB shares. Morgan Stanley reiterated a "market perform" rating and issued a $22.00 price target on shares of TIM in a report on Thursday, August 20th. Barclays reduced their price objective on TIM from $28.00 to $24.00 and set an "equal weight" rating on the stock in a report on Friday, July 10th. Weiss Ratings raised TIM from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 6th. Scotiabank upped their target price on TIM from $27.00 to $28.50 and gave the stock a "sector perform" rating in a report on Wednesday, May 27th. Finally, Wall Street Zen raised TIM from a "hold" rating to a "buy" rating in a research report on Sunday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $24.82.

Insider Buying and Selling at TIM

In other news, CFO Marques Andrea Palma Viegas sold 35,000 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $4.32, for a total transaction of $151,200.00. Following the sale, the chief financial officer owned 83,259 shares in the company, valued at approximately $359,678.88. The trade was 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 accessible through this hyperlink.

TIM Trading Down 0.4%

NYSE TIMB opened at $18.19 on Thursday. TIM S.A. Sponsored ADR has a 52 week low of $17.14 and a 52 week high of $28.22. The company has a 50 day moving average price of $20.18 and a 200 day moving average price of $23.23. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.55. The firm has a market cap of $8.81 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 1.22 and a beta of 0.40.

TIM (NYSE:TIMB - Get Free Report) last announced its earnings results on Wednesday, June 17th. The company reported $0.42 earnings per share for the quarter. TIM had a net margin of 15.73% and a return on equity of 17.99%. The company had revenue of $1.35 billion during the quarter. As a group, sell-side analysts forecast that TIM S.A. Sponsored ADR will post 1.82 EPS for the current fiscal year.

TIM Dividend Announcement

The firm also recently declared a special dividend, which was paid on Wednesday, July 29th. Shareholders of record on Monday, June 29th were issued a $0.1618 dividend. The ex-dividend date of this dividend was Monday, June 29th. TIM's dividend payout ratio (DPR) is currently 61.54%.

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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