Crossmark Global Holdings Inc. Sells 48,391 Shares of Tim S.A. (NYSE:TIMB)

Crossmark Global Holdings Inc. lowered its stake in Tim S.A. (NYSE:TIMB) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 566,797 shares of the company’s stock after selling 48,391 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in TIM were worth $6,666,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of TIM by 108.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,606 shares of the company’s stock worth $25,000 after buying an additional 835 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in TIM in the third quarter valued at about $25,000. Inspire Advisors LLC purchased a new position in TIM in the third quarter worth about $173,000. XTX Topco Ltd grew its stake in shares of TIM by 26.1% during the 2nd quarter. XTX Topco Ltd now owns 13,264 shares of the company’s stock valued at $190,000 after purchasing an additional 2,746 shares during the period. Finally, Aprio Wealth Management LLC purchased a new stake in shares of TIM during the 4th quarter valued at about $194,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group downgraded shares of TIM from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. The Goldman Sachs Group cut their price objective on shares of TIM from $16.20 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Scotiabank decreased their target price on TIM from $24.80 to $23.20 and set a “sector outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays lowered their target price on TIM from $17.50 to $15.50 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th.

TIM Price Performance

TIMB opened at $12.53 on Wednesday. Tim S.A. has a 1-year low of $11.32 and a 1-year high of $19.14. The company has a 50 day simple moving average of $12.71 and a two-hundred day simple moving average of $14.64. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52.

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 analysts’ consensus estimates of $0.38 by ($0.09). TIM had a return on equity of 11.73% and a net margin of 12.71%. The business had revenue of $1.16 billion during the quarter. As a group, equities analysts anticipate that Tim S.A. will post 1.16 earnings per share for the current year.

TIM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Monday, December 30th will be issued a $0.1723 dividend. This represents a $0.69 annualized dividend and a dividend yield of 5.50%. The ex-dividend date is Monday, December 30th. This is an increase from TIM’s previous quarterly dividend of $0.09. TIM’s payout ratio is 54.76%.

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.