29,466 Shares in Tim S.A. (NYSE:TIMB) Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC purchased a new stake in Tim S.A. (NYSE:TIMB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 29,466 shares of the company’s stock, valued at approximately $422,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TIMB. XTX Topco Ltd grew its position in shares of TIM by 26.1% during the 2nd quarter. XTX Topco Ltd now owns 13,264 shares of the company’s stock worth $190,000 after purchasing an additional 2,746 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of TIM by 11.8% in the second quarter. Hsbc Holdings PLC now owns 70,656 shares of the company’s stock valued at $1,010,000 after buying an additional 7,482 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in TIM by 30.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,701 shares of the company’s stock worth $253,000 after buying an additional 4,172 shares in the last quarter. Renaissance Technologies LLC increased its stake in TIM by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,364,048 shares of the company’s stock worth $19,533,000 after acquiring an additional 142,862 shares during the period. Finally, American Century Companies Inc. raised its holdings in TIM by 5.8% in the 2nd quarter. American Century Companies Inc. now owns 284,714 shares of the company’s stock valued at $4,077,000 after acquiring an additional 15,501 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays decreased their price target on TIM from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Scotiabank upgraded shares of TIM from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $17.50 to $24.80 in a research report on Friday, September 20th.

TIM Trading Up 2.4 %

Shares of TIMB stock opened at $17.31 on Wednesday. Tim S.A. has a fifty-two week low of $13.84 and a fifty-two week high of $19.14. The stock’s fifty day moving average price is $15.99 and its two-hundred day moving average price is $16.25. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.52.

TIM (NYSE:TIMB) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.31 earnings per share for the quarter. TIM had a return on equity of 11.47% and a net margin of 12.53%. The business had revenue of $1.21 billion for the quarter. On average, equities analysts forecast that Tim S.A. will post 1.24 earnings per share for the current year.

TIM Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Monday, September 30th will be issued a dividend of $0.088 per share. This represents a $0.35 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Monday, September 30th. TIM’s dividend payout ratio (DPR) is presently 27.64%.

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.