Victory Capital Management Inc. lifted its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS – Get Rating) by 125.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 836,218 shares of the Wireless communications provider’s stock after buying an additional 465,016 shares during the quarter. Victory Capital Management Inc. owned approximately 0.73% of Telephone and Data Systems worth $15,320,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Envestnet Asset Management Inc. raised its stake in shares of Telephone and Data Systems by 39.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 67,578 shares of the Wireless communications provider’s stock worth $1,276,000 after buying an additional 19,120 shares during the period. North Star Investment Management Corp. raised its stake in Telephone and Data Systems by 2.4% in the 1st quarter. North Star Investment Management Corp. now owns 129,995 shares of the Wireless communications provider’s stock valued at $2,454,000 after purchasing an additional 3,000 shares during the last quarter. Verdence Capital Advisors LLC acquired a new position in Telephone and Data Systems in the 1st quarter valued at $342,000. WBI Investments Inc. acquired a new position in Telephone and Data Systems in the 1st quarter valued at $498,000. Finally, Mutual of America Capital Management LLC raised its stake in Telephone and Data Systems by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 14,235 shares of the Wireless communications provider’s stock valued at $269,000 after purchasing an additional 738 shares during the last quarter. 86.34% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Morgan Stanley downgraded Telephone and Data Systems from an “overweight” rating to an “equal weight” rating and set a $22.00 price objective for the company. in a research note on Tuesday, April 19th.
Telephone and Data Systems Stock Up 5.6 %
Telephone and Data Systems (NYSE:TDS – Get Rating) last issued its earnings results on Thursday, August 4th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. Telephone and Data Systems had a return on equity of 2.81% and a net margin of 2.99%. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, equities analysts forecast that Telephone and Data Systems, Inc. will post 0.31 EPS for the current year.
Telephone and Data Systems Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend was Tuesday, June 14th. Telephone and Data Systems’s dividend payout ratio (DPR) is presently 80.90%.
Insiders Place Their Bets
In other news, Director Clarence A. Davis sold 4,300 shares of the stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $18.33, for a total transaction of $78,819.00. Following the completion of the transaction, the director now directly owns 15,511 shares in the company, valued at approximately $284,316.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 14.08% of the company’s stock.
About Telephone and Data Systems
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, routers, 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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