Aprio Wealth Management LLC Acquires 14,119 Shares of TIM S.A. Sponsored ADR $TIMB

Key Points

• Aprio Wealth Management LLC increased its stake in TIM S.A. by 85.4%, owning 30,658 shares valued at $480,000 after purchasing an additional 14,119 shares in the first quarter.
• TIM reported a $0.35 EPS for the latest quarter, exceeding estimates and generating a revenue of $1.18 billion, despite analysts' expectations of $6.62 billion.
• The company declared a special dividend yield of 720.0% set to be paid on October 28th, with a payout ratio of 66.67%.

Aprio Wealth Management LLC raised its holdings in TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 85.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,658 shares of the company's stock after buying an additional 14,119 shares during the period. Aprio Wealth Management LLC's holdings in TIM were worth $480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 1,647 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of TIM during the first quarter worth $50,000. Farther Finance Advisors LLC increased its position in shares of TIM by 30,036.4% during the first 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. SVB Wealth LLC acquired a new position in TIM in the first quarter valued at $64,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of TIM by 29.5% during 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 during the period.

Analyst Ratings Changes

TIMB has been the subject of a number of recent analyst reports. Hsbc Global Res downgraded shares of TIM from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 12th. JPMorgan Chase & Co. upped their price objective on shares of TIM from $22.00 to $24.50 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Wall Street Zen downgraded shares of TIM from a "strong-buy" rating to a "buy" rating in a research report on Friday. HSBC lowered shares of TIM to a "hold" rating in a research report on Friday, June 13th. Finally, Barclays increased their target price on shares of TIM from $17.50 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, TIM currently has a consensus rating of "Hold" and an average price target of $21.25.

TIM Price Performance

Shares of TIMB traded down $0.35 during mid-day trading on Monday, reaching $21.00. The stock had a trading volume of 233,344 shares, compared to its average volume of 507,568. 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 business has a fifty day moving average of $19.80 and a 200 day moving average of $17.55. TIM S.A. Sponsored ADR has a 12 month low of $11.32 and a 12 month high of $21.57. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 0.84 and a beta of 0.69.

TIM (NYSE:TIMB - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.35 earnings per share 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 firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $6.62 billion. Equities analysts predict that TIM S.A. Sponsored ADR will post 1.34 EPS for the current year.

TIM Cuts Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, August 4th will be paid a $0.1189 dividend. This represents a yield of 720.0%. The ex-dividend date of this dividend is Monday, August 4th. TIM's dividend payout ratio (DPR) is currently 67.44%.

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.