Oregon Public Employees Retirement Fund lowered its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS – Free Report) by 4.1% in the second quarter, Holdings Channel reports. The institutional investor owned 30,777 shares of the Wireless communications provider’s stock after selling 1,300 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Telephone and Data Systems were worth $253,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of TDS. State Street Corp lifted its holdings in shares of Telephone and Data Systems by 30.8% during the first quarter. State Street Corp now owns 18,359,669 shares of the Wireless communications provider’s stock worth $346,631,000 after buying an additional 4,322,948 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Telephone and Data Systems by 289.1% during the fourth quarter. Millennium Management LLC now owns 1,627,813 shares of the Wireless communications provider’s stock worth $17,076,000 after buying an additional 1,209,458 shares in the last quarter. Norges Bank acquired a new stake in shares of Telephone and Data Systems during the fourth quarter worth $8,836,000. Prudential Financial Inc. lifted its holdings in shares of Telephone and Data Systems by 100.0% during the first quarter. Prudential Financial Inc. now owns 1,514,303 shares of the Wireless communications provider’s stock worth $15,915,000 after buying an additional 757,125 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Telephone and Data Systems by 292.9% in the first quarter. JPMorgan Chase & Co. now owns 859,623 shares of the Wireless communications provider’s stock valued at $9,035,000 after purchasing an additional 640,826 shares in the last quarter. Institutional investors and hedge funds own 95.40% of the company’s stock.
Analyst Ratings Changes
TDS has been the subject of a number of analyst reports. StockNews.com initiated coverage on Telephone and Data Systems in a research note on Thursday, October 5th. They issued a “sell” rating for the company. Citigroup boosted their price target on Telephone and Data Systems from $16.00 to $23.00 in a research note on Friday, August 18th. Morgan Stanley boosted their price target on Telephone and Data Systems from $15.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, September 11th. Finally, JPMorgan Chase & Co. raised Telephone and Data Systems from a “neutral” rating to an “overweight” rating and set a $38.00 price target for the company in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.33.
Telephone and Data Systems Stock Up 0.5 %
Shares of NYSE TDS opened at $18.06 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.20 and a debt-to-equity ratio of 0.71. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -21.25 and a beta of 0.87. Telephone and Data Systems, Inc. has a 12 month low of $6.43 and a 12 month high of $21.75. The stock has a 50-day moving average price of $18.32 and a two-hundred day moving average price of $12.21.
Telephone and Data Systems (NYSE:TDS – Get Free Report) last issued its earnings results on Friday, August 4th. The Wireless communications provider reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.29 billion. Telephone and Data Systems had a negative return on equity of 0.51% and a negative net margin of 0.53%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. As a group, analysts forecast that Telephone and Data Systems, Inc. will post -0.58 earnings per share for the current fiscal year.
Telephone and Data Systems Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Thursday, September 14th. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -87.06%.
Telephone and Data Systems Profile
Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.
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