Assetmark Inc. Acquires 29,030 Shares of Tim S.A. (NYSE:TIMB)

Assetmark Inc. grew its stake in Tim S.A. (NYSE:TIMB) by 10.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 309,225 shares of the company’s stock after purchasing an additional 29,030 shares during the period. Assetmark Inc.’s holdings in TIM were worth $5,325,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of TIM by 108.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock worth $25,000 after purchasing an additional 835 shares during the last quarter. CWM LLC boosted its stake in shares of TIM by 105.7% in the 2nd quarter. CWM LLC now owns 2,471 shares of the company’s stock valued at $35,000 after purchasing an additional 1,270 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in shares of TIM during the first quarter worth $54,000. Headlands Technologies LLC bought a new position in TIM during the first quarter worth $59,000. Finally, Blue Trust Inc. lifted its stake in shares of TIM by 298.2% in the 2nd quarter. Blue Trust Inc. now owns 6,973 shares of the company’s stock valued at $100,000 after purchasing an additional 5,222 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays lowered their target price on TIM from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Scotiabank lowered their price target on TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a research report on Tuesday, November 5th.

TIM Stock Up 3.2 %

TIMB stock opened at $14.35 on Tuesday. The stock has a 50-day simple moving average of $15.80 and a two-hundred day simple moving average of $15.70. The company has a quick ratio of 0.85, a current ratio of 0.97 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $6.95 billion, a PE ratio of 11.39, a PEG ratio of 0.59 and a beta of 0.89. Tim S.A. has a twelve month low of $13.74 and a twelve month high of $19.14.

TIM (NYSE:TIMB) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.09). TIM had a return on equity of 11.73% and a net margin of 12.71%. The firm had revenue of $1.16 billion for the quarter. On average, equities analysts predict that Tim S.A. will post 1.27 EPS for the current fiscal year.

TIM Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Monday, September 30th were given a dividend of $0.088 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.35 annualized dividend and a yield of 2.45%. TIM’s payout ratio is 26.19%.

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.