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

Crossmark Global Holdings Inc. decreased its stake in shares of Tim S.A. (NYSE:TIMB) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 566,797 shares of the company’s stock after selling 48,391 shares during the period. Crossmark Global Holdings Inc.’s holdings in TIM were worth $6,666,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Ritholtz Wealth Management lifted its holdings in TIM by 8.0% in the fourth quarter. Ritholtz Wealth Management now owns 67,724 shares of the company’s stock worth $796,000 after buying an additional 4,997 shares during the period. Aprio Wealth Management LLC purchased a new position in shares of TIM in the 4th quarter valued at approximately $194,000. DGS Capital Management LLC lifted its stake in shares of TIM by 4.4% in the 3rd quarter. DGS Capital Management LLC now owns 32,682 shares of the company’s stock valued at $563,000 after purchasing an additional 1,367 shares during the period. World Investment Advisors LLC bought a new stake in shares of TIM during the third quarter valued at approximately $1,331,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in TIM in the third quarter worth $1,089,000.

TIM Stock Up 3.0 %

Shares of TIMB stock opened at $12.53 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.97 and a quick ratio of 0.93. Tim S.A. has a one year low of $11.32 and a one year high of $19.14. The company’s 50-day moving average is $12.71 and its 200 day moving average is $14.64.

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

TIM Increases Dividend

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

Analysts Set New Price Targets

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

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.