Cerity Partners LLC Buys 20,222 Shares of TIM S.A. Sponsored ADR (NYSE:TIMB)

Cerity Partners LLC lifted its position in shares of TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 73.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,871 shares of the company's stock after acquiring an additional 20,222 shares during the quarter. Cerity Partners LLC's holdings in TIM were worth $749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its holdings in TIM by 10.2% during the first 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. Blue Trust Inc. raised its stake in TIM by 26.2% during the 1st quarter. Blue Trust Inc. now owns 7,687 shares of the company's stock worth $120,000 after buying an additional 1,597 shares during the period. Ritholtz Wealth Management lifted its holdings in TIM by 43.3% during the first quarter. Ritholtz Wealth Management now owns 97,026 shares of the company's stock worth $1,518,000 after acquiring an additional 29,302 shares in the last quarter. GAMMA Investing LLC grew its stake in TIM by 119.3% in the first quarter. GAMMA Investing LLC now owns 3,028 shares of the company's stock valued at $47,000 after acquiring an additional 1,647 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of TIM by 30,036.4% in the first quarter. Farther Finance Advisors LLC now owns 3,315 shares of the company's stock worth $53,000 after acquiring an additional 3,304 shares in the last quarter.

TIM Stock Down 0.2%

NYSE TIMB traded down $0.03 during trading hours on Thursday, hitting $18.11. 393,681 shares of the company traded hands, compared to its average volume of 527,868. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.74 and a beta of 0.64. TIM S.A. Sponsored ADR has a twelve month low of $11.32 and a twelve month high of $20.78. The business's 50-day moving average is $18.55 and its 200-day moving average is $16.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.86 and a current ratio of 0.88.

TIM (NYSE:TIMB - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $6.38 billion. TIM had a net margin of 13.30% and a return on equity of 13.17%. Sell-side analysts anticipate that TIM S.A. Sponsored ADR will post 1.34 earnings per share for the current year.

TIM Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, August 4th will be given a dividend of $0.1189 per share. This represents a yield of 7.2%. The ex-dividend date of this dividend is Monday, August 4th. TIM's dividend payout ratio (DPR) is presently 61.60%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of TIM from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 15th. Barclays increased their target price on TIM from $17.50 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. HSBC cut TIM to a "hold" rating in a research report on Friday, June 13th. Hsbc Global Res lowered TIM from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 12th. Finally, The Goldman Sachs Group upped their price target on TIM from $15.30 to $16.90 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $18.17.

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.