Ritholtz Wealth Management Reduces Stock Holdings in Tim S.A. (NYSE:TIMB)

Ritholtz Wealth Management decreased its position in Tim S.A. (NYSE:TIMB) by 24.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,390 shares of the company’s stock after selling 12,225 shares during the period. Ritholtz Wealth Management’s holdings in TIM were worth $535,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of TIMB. Crossmark Global Holdings Inc. bought a new stake in TIM during the 2nd quarter valued at $8,818,000. Summit Global Investments raised its holdings in TIM by 147.6% during the 2nd quarter. Summit Global Investments now owns 325,462 shares of the company’s stock valued at $4,661,000 after acquiring an additional 193,996 shares during the period. Acadian Asset Management LLC bought a new stake in TIM during the 1st quarter valued at $2,000,000. Fiera Capital Corp bought a new stake in TIM during the 4th quarter valued at $1,700,000. Finally, Brandes Investment Partners LP raised its holdings in TIM by 98.3% during the 4th quarter. Brandes Investment Partners LP now owns 182,703 shares of the company’s stock valued at $3,375,000 after acquiring an additional 90,562 shares during the period.

Analysts Set New Price Targets

Separately, Barclays lowered their target price on shares of TIM from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd.

TIM Trading Up 1.7 %

TIM stock opened at $16.32 on Thursday. Tim S.A. has a fifty-two week low of $13.84 and a fifty-two week high of $19.14. The firm’s fifty day moving average price is $15.44 and its 200-day moving average price is $16.44. 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 results on Tuesday, July 30th. The company reported $0.31 earnings per share for the quarter. The firm had revenue of $1.21 billion for the quarter. TIM had a net margin of 12.53% and a return on equity of 11.47%. As a group, analysts forecast that Tim S.A. will post 1.25 earnings per share for the current year.

TIM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Thursday, June 27th were paid a $0.1154 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Thursday, June 27th. This is a boost from TIM’s previous quarterly dividend of $0.08. TIM’s dividend payout ratio is currently 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.