New York State Teachers Retirement System Sells 10,669 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Posted by Defense World Staff on Oct 25th, 2023

New York State Teachers Retirement System reduced its position in Telephone and Data Systems, Inc. (NYSE:TDS – Free Report) by 7.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,141 shares of the Wireless communications provider’s stock after selling 10,669 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Telephone and Data Systems worth $1,145,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TDS. State Street Corp boosted its position in shares of Telephone and Data Systems by 30.8% in the first quarter. State Street Corp now owns 18,359,669 shares of the Wireless communications provider’s stock valued at $346,631,000 after acquiring an additional 4,322,948 shares during the period. Millennium Management LLC lifted its position in 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 valued at $17,076,000 after purchasing an additional 1,209,458 shares during the last quarter. Norges Bank bought a new stake in Telephone and Data Systems during the fourth quarter valued at approximately $8,836,000. Prudential Financial Inc. lifted its position in 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 valued at $15,915,000 after purchasing an additional 757,125 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Telephone and Data Systems by 292.9% during 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 during the last quarter. 95.40% of the stock is currently owned by institutional investors.

Telephone and Data Systems Trading Up 2.7 %

TDS stock opened at $18.56 on Wednesday. The company has a market capitalization of $2.09 billion, a PE ratio of -21.83 and a beta of 0.87. Telephone and Data Systems, Inc. has a one year low of $6.43 and a one year high of $21.75. The company’s 50 day moving average price is $18.32 and its two-hundred day moving average price is $12.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.20 and a current ratio of 1.37.

Telephone and Data Systems (NYSE:TDS – Get Free Report) last posted its quarterly 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). Telephone and Data Systems had a negative return on equity of 0.51% and a negative net margin of 0.53%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the business posted $0.15 earnings per share. The company’s revenue was down 6.1% compared to the same quarter last year. As a group, analysts predict 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 announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Thursday, September 14th. Telephone and Data Systems’s payout ratio is -87.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TDS shares. Citigroup lifted their target price on shares of Telephone and Data Systems from $16.00 to $23.00 in a research report on Friday, August 18th. StockNews.com started coverage on shares of Telephone and Data Systems in a research report on Thursday, October 5th. They set a “sell” rating for the company. Morgan Stanley lifted their target price on shares of Telephone and Data Systems from $15.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, September 11th. Finally, JPMorgan Chase & Co. raised shares of Telephone and Data Systems from a “neutral” rating to an “overweight” rating and set a $38.00 price target on the stock in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.33.

Get Our Latest Analysis on TDS

Telephone and Data Systems Company Profile

(Free Report)

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.