Assetmark Inc. Increases Stake in TIM S.A. Sponsored ADR (NYSE:TIMB)

Assetmark Inc. grew its holdings in shares of TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 18.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 329,779 shares of the company's stock after acquiring an additional 50,370 shares during the quarter. Assetmark Inc. owned about 0.07% of TIM worth $5,161,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in TIM by 119.3% during 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. Farther Finance Advisors LLC boosted its holdings in shares of TIM by 30,036.4% in the 1st quarter. Farther Finance Advisors LLC now owns 3,315 shares of the company's stock worth $53,000 after purchasing an additional 3,304 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of TIM during the 4th quarter valued at about $54,000. Advisors Preferred LLC bought a new stake in TIM in the 1st quarter worth approximately $89,000. Finally, Blue Trust Inc. lifted its position in TIM by 26.2% in 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 last quarter.

Wall Street Analysts Forecast Growth

TIMB has been the topic of several research reports. Wall Street Zen downgraded shares of TIM from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 15th. Barclays lifted their target price on shares of TIM from $17.50 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Scotiabank boosted their price target on shares of TIM from $19.10 to $23.60 and gave the stock a "sector outperform" rating in a research note on Thursday. The Goldman Sachs Group raised their price objective 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 Global Res downgraded TIM from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 12th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $20.17.

TIM Trading Up 2.3%

NYSE:TIMB traded up $0.42 during midday trading on Friday, reaching $18.80. 142,387 shares of the stock traded hands, compared to its average volume of 509,397. The stock has a market capitalization of $9.10 billion, a P/E ratio of 14.57, a PEG ratio of 0.73 and a beta of 0.64. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.86 and a current ratio of 0.88. The company has a fifty day moving average of $18.62 and a 200 day moving average of $16.24. TIM S.A. Sponsored ADR has a 12 month low of $11.32 and a 12 month high of $20.78.

TIM (NYSE:TIMB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $6.62 billion. TIM had a net margin of 13.91% and a return on equity of 13.88%. On average, research analysts predict that TIM S.A. Sponsored ADR will post 1.34 EPS for the current 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 paid a $0.1189 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a yield of 720.0%. TIM's dividend payout ratio (DPR) is presently 66.67%.

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.