833,068 TIM S.A. Sponsored ADR $TIMB Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its stake in shares of TIM S.A. Sponsored ADR (NYSE:TIMB) by 21.8% during the third quarter, Holdings Channel reports. The institutional investor owned 2,987,854 shares of the company’s stock after selling 833,068 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in TIM were worth $53,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC increased its holdings in TIM by 55.5% in the first quarter. Hsbc Holdings PLC now owns 135,167 shares of the company’s stock valued at $3,578,000 after buying an additional 48,232 shares in the last quarter. Bank of America Corp DE lifted its position in shares of TIM by 199.8% during the 1st quarter. Bank of America Corp DE now owns 251,330 shares of the company’s stock valued at $6,658,000 after acquiring an additional 167,504 shares during the period. Assetmark Inc. lifted its position in shares of TIM by 19.0% during the 1st quarter. Assetmark Inc. now owns 490,478 shares of the company’s stock valued at $12,993,000 after acquiring an additional 78,379 shares during the period. NewEdge Advisors LLC lifted its position in shares of TIM by 47.8% during the 1st quarter. NewEdge Advisors LLC now owns 21,510 shares of the company’s stock valued at $570,000 after acquiring an additional 6,959 shares during the period. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of TIM during the 1st quarter worth approximately $332,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TIMB shares. Wall Street Zen lowered TIM from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Morgan Stanley reaffirmed a “market perform” rating and issued a $22.00 price objective on shares of TIM in a research note on Thursday, August 20th. Weiss Ratings raised TIM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Bank of America raised TIM from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 13th. Finally, Barclays decreased their target price on TIM from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.82.

TIM Price Performance

TIM stock opened at $19.47 on Friday. TIM S.A. Sponsored ADR has a 52 week low of $17.14 and a 52 week high of $28.22. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.55. The firm’s 50-day simple moving average is $18.38 and its 200 day simple moving average is $21.06. The firm has a market capitalization of $9.32 billion, a PE ratio of 11.52, a P/E/G ratio of 1.77 and a beta of 0.33.

TIM (NYSE:TIMB) last issued its quarterly earnings data on Wednesday, June 17th. The company reported $0.42 EPS for the quarter. TIM had a net margin of 15.73% and a return on equity of 17.99%. The firm had revenue of $1.35 billion for the quarter. On average, equities research analysts predict that TIM S.A. Sponsored ADR will post 1.82 EPS for the current fiscal year.

TIM Announces Dividend

The firm also recently announced a special dividend, which will be paid on Friday, January 29th. Shareholders of record on Monday, September 28th will be given a dividend of $0.2102 per share. The ex-dividend date is Monday, September 28th. TIM’s payout ratio is presently 62.13%.

About TIM

TIM SA is a Brazilian telecommunications company that provides mobile and fixed-line communications services to consumers, businesses and public-sector customers. Its offerings include voice and data plans, mobile internet, broadband connectivity and related digital services.

The company operates a nationwide wireless network, including 4G and 5G services, and provides connectivity solutions for corporate and institutional customers. Its business portfolio also includes Internet of Things applications, managed connectivity and other digital and technology services.

TIM traces its Brazilian operations to the late 1990s and has developed into one of the country’s major mobile operators.