Freedom Investment Management Inc. Purchases Shares of 33,796 TIM S.A. Sponsored ADR $TIMB

Key Points

• Freedom Investment Management Inc. acquired 33,796 shares of TIM S.A. Sponsored ADR, valued at approximately $680,000, in the second quarter.
• Several institutional investors have bolstered their stakes in TIM, with GAMMA Investing LLC increasing its ownership by 119.3%.
• TIM's stock has received varying ratings from analysts, with Citigroup initiating a buy rating and a consensus price target of $21.50.

Freedom Investment Management Inc. purchased a new stake in TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 33,796 shares of the company's stock, valued at approximately $680,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased 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 purchasing an additional 1,647 shares in the last quarter. Brooklyn Investment Group bought a new stake in TIM in the first quarter valued at $50,000. SVB Wealth LLC bought a new stake in TIM in the first quarter valued at $64,000. PNC Financial Services Group Inc. increased its stake in TIM by 29.5% in the first quarter. PNC Financial Services Group Inc. now owns 4,258 shares of the company's stock valued at $67,000 after purchasing an additional 969 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in TIM by 19.3% in the second quarter. Farther Finance Advisors LLC now owns 3,956 shares of the company's stock valued at $80,000 after purchasing an additional 641 shares in the last quarter.

Wall Street Analyst Weigh In

TIMB has been the subject of several recent research reports. Citigroup initiated coverage on shares of TIM in a research report on Wednesday, September 10th. They set a "buy" rating for the company. Weiss Ratings reissued a "hold (c)" rating on shares of TIM in a research report on Tuesday, October 14th. Wall Street Zen raised shares of TIM from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 20th. Barclays boosted their target price on shares of TIM from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, October 6th. Finally, Scotiabank boosted their target price on shares of TIM from $19.10 to $23.60 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.50.

TIM Trading Up 1.3%

Shares of TIMB stock opened at $22.68 on Friday. TIM S.A. Sponsored ADR has a 52-week low of $11.32 and a 52-week high of $22.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.88 and a current ratio of 0.91. The company has a 50-day simple moving average of $21.37 and a two-hundred day simple moving average of $19.13. The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 0.84 and a beta of 0.65.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $6.62 billion. Research analysts anticipate that TIM S.A. Sponsored ADR will post 1.34 EPS for the current fiscal year.

TIM Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Wednesday, January 28th. Investors of record on Friday, October 3rd will be paid a dividend of $0.1888 per share. The ex-dividend date is Friday, October 3rd. TIM's dividend payout ratio is presently 72.09%.

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.

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