Victory Capital Management Inc. increased its stake in Telephone and Data Systems, Inc. (NYSE:TDS – Free Report) by 42.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,691 shares of the Wireless communications provider’s stock after acquiring an additional 23,753 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Telephone and Data Systems worth $656,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its position in Telephone and Data Systems by 89.8% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 4,100 shares of the Wireless communications provider’s stock valued at $43,000 after purchasing an additional 1,940 shares during the period. Covestor Ltd grew its position in Telephone and Data Systems by 56.2% in the 1st quarter. Covestor Ltd now owns 3,954 shares of the Wireless communications provider’s stock valued at $75,000 after purchasing an additional 1,422 shares during the period. US Bancorp DE grew its position in Telephone and Data Systems by 77.4% in the 1st quarter. US Bancorp DE now owns 7,846 shares of the Wireless communications provider’s stock valued at $82,000 after purchasing an additional 3,424 shares during the period. Creative Planning acquired a new stake in Telephone and Data Systems in the 2nd quarter valued at $84,000. Finally, Lazard Asset Management LLC grew its position in Telephone and Data Systems by 71.3% in the 4th quarter. Lazard Asset Management LLC now owns 8,709 shares of the Wireless communications provider’s stock valued at $91,000 after purchasing an additional 3,626 shares during the period. Institutional investors own 95.40% of the company’s stock.
Analysts Set New Price Targets
TDS has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Telephone and Data Systems in a report on Thursday, October 5th. They set a “sell” rating on the stock. JPMorgan Chase & Co. raised shares of Telephone and Data Systems from a “neutral” rating to an “overweight” rating and set a $38.00 price objective on the stock in a report on Tuesday, August 8th. Morgan Stanley lifted their target price on Telephone and Data Systems from $15.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, September 11th. Finally, Citigroup lifted their target price on Telephone and Data Systems from $16.00 to $23.00 in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.33.
Telephone and Data Systems Trading Up 2.8 %
NYSE TDS opened at $19.05 on Friday. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -22.41 and a beta of 0.90. Telephone and Data Systems, Inc. has a one year low of $6.43 and a one year high of $21.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.37 and a quick ratio of 1.20. The business’s fifty day moving average is $18.34 and its 200-day moving average is $12.59.
Telephone and Data Systems (NYSE:TDS – Get Free Report) last announced its quarterly earnings data on Friday, August 4th. The Wireless communications provider reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). Telephone and Data Systems had a negative net margin of 0.53% and a negative return on equity of 0.51%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The company’s revenue was down 6.1% on a year-over-year basis. Equities research analysts predict that Telephone and Data Systems, Inc. will post -0.58 EPS for the current year.
Telephone and Data Systems Announces Dividend
The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Thursday, September 14th. Telephone and Data Systems’s dividend payout ratio is currently -87.06%.
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, 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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