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 brokerages have issued reports on TSU. Barclays PLC upped their price objective on TIM Participacoes SA from $8.60 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, April 1st. Zacks Investment Research downgraded 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 issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.17.

The stock has a market capitalization of $5.21 billion and a P/E ratio of 8.97. The firm has a 50-day moving average of $9.92 and a 200-day moving average of $9.52.

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

A number of hedge funds and institutional investors recently made changes to their positions in TSU. New York State Common Retirement Fund boosted its position 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 last quarter. Russell Frank Co boosted its position 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 last quarter. Asturias Capital LLC bought a new position in shares of TIM Participacoes SA during the fourth quarter worth about $24,246,000. Finally, Brandes Investment Partners LP boosted its position 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 last quarter.

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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