TIM Participacoes SA (NYSE:TSU) shares fell 2.2% during mid-day trading on Wednesday . The company traded as low as $10.02 and last traded at $10.14, with a volume of 377,968 shares trading hands. The stock had previously closed at $10.37.

A number of research firms recently issued reports on TSU. Barclays PLC lifted their target price on TIM Participacoes SA from $8.60 to $11.00 and gave the company an “equal weight” rating in a report on Friday, April 1st. Zacks Investment Research cut TIM Participacoes SA from a “hold” rating to a “sell” rating in a research note on Wednesday, May 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. TIM Participacoes SA presently has an average rating of “Hold” and a consensus price target of $14.17.

The firm has a market cap of $4.91 billion and a P/E ratio of 8.39. The firm’s 50 day moving average price is $9.91 and its 200-day moving average price is $9.51.

The business also recently announced an annual dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, April 22nd were paid a $0.248 dividend. This is a positive change from TIM Participacoes SA’s previous annual dividend of $0.25. The ex-dividend date was Wednesday, April 20th.

Other large investors recently modified their holdings of the company. Asturias Capital LLC bought a new stake in shares of TIM Participacoes SA during the fourth quarter worth about $24,246,000. Russell Frank Co raised its stake in shares of TIM Participacoes SA by 18.8% in the fourth quarter. Russell Frank Co now owns 1,308,032 shares of the company’s stock worth $11,236,000 after buying an additional 207,200 shares during the period. Brandes Investment Partners LP raised its stake in shares of TIM Participacoes SA by 8.2% in the fourth quarter. Brandes Investment Partners LP now owns 15,722,644 shares of the company’s stock worth $133,328,000 after buying an additional 1,188,025 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of TIM Participacoes SA by 11.7% in the fourth quarter. New York State Common Retirement Fund now owns 1,158,625 shares of the company’s stock worth $9,825,000 after buying an additional 121,149 shares during the period.

TIM Participacoes SA is a holding company. The Company provides mobile telecommunication services in Brazil. The Company, through its subsidiaries in various telecommunications markets, operates mobile, fixed and long distance telephony, data transmission and ultra-broadband services. The Company’s wholly owned subsidiaries include TIM Celular SA, which provides landline telephone services (STFC) – domestic long distance and international long distance voice services, personal mobile service (SMP) and multimedia communication service (SCM) in all Brazilian states and in the Federal District, and Intelig Telecomunicacoes Ltda., which provides STFC – local voices services and SCM services in all Brazilian states and in the Federal District (DF).

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