Assetmark Inc. Purchases 78,379 Shares of TIM S.A. Sponsored ADR $TIMB

Assetmark Inc. grew its position in TIM S.A. Sponsored ADR (NYSE:TIMB) by 19.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 490,478 shares of the company’s stock after acquiring an additional 78,379 shares during the period. Assetmark Inc. owned about 0.10% of TIM worth $12,993,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in shares of TIM by 53.8% in the 4th quarter. Wells Fargo & Company MN now owns 1,413 shares of the company’s stock valued at $27,000 after purchasing an additional 494 shares during the period. Kestra Advisory Services LLC bought a new position in TIM during the fourth quarter worth about $39,000. EverSource Wealth Advisors LLC grew its holdings in TIM by 188.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company’s stock worth $41,000 after purchasing an additional 1,345 shares during the period. Raymond James Financial Inc. acquired a new position in TIM during the second quarter worth approximately $42,000. Finally, Atlas Capital Advisors Inc. acquired a new position in TIM during the fourth quarter worth approximately $56,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bradesco Corretora cut TIM to a “neutral” rating in a research report on Tuesday, April 28th. Santander upgraded TIM from a “neutral” rating to an “outperform” rating in a research note on Monday, June 22nd. Weiss Ratings downgraded TIM from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 26th. The Goldman Sachs Group assumed coverage on shares of TIM in a research report on Monday, May 18th. They set a “neutral” rating and a $23.40 price objective for the company. Finally, Barclays decreased their price objective on shares of TIM from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, TIM currently has a consensus rating of “Hold” and an average target price of $25.23.

TIM Stock Up 0.0%

TIMB opened at $22.14 on Monday. The stock has a fifty day moving average of $21.95 and a 200-day moving average of $23.79. The company has a market capitalization of $10.72 billion, a P/E ratio of 13.50, a P/E/G ratio of 1.15 and a beta of 0.38. TIM S.A. Sponsored ADR has a fifty-two week low of $17.65 and a fifty-two week high of $28.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 0.92.

TIM (NYSE:TIMB) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). TIM had a net margin of 16.00% and a return on equity of 17.77%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.32 billion. On average, equities analysts expect that TIM S.A. Sponsored ADR will post 1.8 EPS for the current year.

TIM Announces Dividend

The firm also recently announced a special dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Monday, June 29th will be issued a dividend of $0.1618 per share. The ex-dividend date of this dividend is Monday, June 29th. TIM’s dividend payout ratio (DPR) is currently 68.90%.

Insider Activity at TIM

In other news, CFO Marques Andrea Palma Viegas sold 35,000 shares of TIM stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $4.32, for a total value of $151,200.00. Following the completion of the sale, the chief financial officer directly owned 83,259 shares in the company, valued at approximately $359,678.88. The trade was a 29.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Auana Mattar Lima sold 8,200 shares of TIM stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $4.42, for a total transaction of $36,244.00. Following the completion of the sale, the insider owned 36,686 shares of the company’s stock, valued at approximately $162,152.12. The trade was a 18.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

About TIM

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. TIM S.A is based in Rio de Janeiro, Brazil. The company operates as a subsidiary of TIM Brasil Serviços e Participações SA