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

Cerity Partners LLC lifted its stake in TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 73.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,871 shares of the company's stock after purchasing an additional 20,222 shares during the period. Cerity Partners LLC's holdings in TIM were worth $749,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Crossmark Global Holdings Inc. boosted its position 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 worth $9,771,000 after purchasing an additional 57,562 shares during the last quarter. 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 raised its stake in TIM by 43.3% during the 1st quarter. Ritholtz Wealth Management now owns 97,026 shares of the company's stock worth $1,518,000 after buying an additional 29,302 shares during the period. GAMMA Investing LLC raised its stake in TIM by 119.3% during the 1st quarter. GAMMA Investing LLC now owns 3,028 shares of the company's stock worth $47,000 after buying an additional 1,647 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in TIM by 30,036.4% during the 1st quarter. Farther Finance Advisors LLC now owns 3,315 shares of the company's stock worth $53,000 after buying an additional 3,304 shares during the period.

TIM Stock Down 0.4%

Shares of NYSE:TIMB traded down $0.07 during midday trading on Friday, reaching $18.03. The company had a trading volume of 357,820 shares, compared to its average volume of 476,700. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.57. The business's 50 day moving average price is $18.56 and its 200 day moving average price is $16.09. The stock has a market cap of $8.73 billion, a PE ratio of 14.42, a P/E/G ratio of 0.73 and a beta of 0.64. TIM S.A. Sponsored ADR has a 1-year low of $11.32 and a 1-year high of $20.78.

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

TIM Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, August 4th will be issued 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 payout ratio is currently 61.60%.

Wall Street Analyst Weigh In

TIMB has been the topic of several research analyst reports. Barclays raised their price objective on TIM from $17.50 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Wall Street Zen downgraded TIM from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 15th. Hsbc Global Res downgraded TIM from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 12th. The Goldman Sachs Group lifted their price target on TIM from $15.30 to $16.90 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, HSBC downgraded TIM to a "hold" rating in a research note on Friday, June 13th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $18.17.

TIM Company 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.