PNC Financial Services Group Inc. Sells 975 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

PNC Financial Services Group Inc. cut its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,720 shares of the Wireless communications provider’s stock after selling 975 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Telephone and Data Systems were worth $686,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TDS. Federated Hermes Inc. bought a new position in shares of Telephone and Data Systems during the 4th quarter valued at approximately $56,000. Bank of Montreal Can grew its stake in shares of Telephone and Data Systems by 5.5% during the 4th quarter. Bank of Montreal Can now owns 42,642 shares of the Wireless communications provider’s stock valued at $1,455,000 after acquiring an additional 2,241 shares during the period. Raymond James Financial Inc. bought a new position in shares of Telephone and Data Systems during the 4th quarter valued at approximately $5,619,000. Sterling Capital Management LLC grew its stake in shares of Telephone and Data Systems by 33.7% during the 4th quarter. Sterling Capital Management LLC now owns 11,238 shares of the Wireless communications provider’s stock valued at $383,000 after acquiring an additional 2,835 shares during the period. Finally, Summit Investment Advisors Inc. boosted its stake in Telephone and Data Systems by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,319 shares of the Wireless communications provider’s stock worth $352,000 after purchasing an additional 482 shares during the period. 80.00% of the stock is currently owned by institutional investors.

Telephone and Data Systems Price Performance

TDS stock opened at $38.91 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.55 and a current ratio of 1.78. The company has a market capitalization of $4.44 billion, a PE ratio of -40.12 and a beta of 0.54. Telephone and Data Systems, Inc. has a one year low of $20.04 and a one year high of $42.74. The company’s fifty day moving average price is $36.66 and its 200-day moving average price is $36.20.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted ($0.13) EPS. The business’s quarterly revenue was down 5.7% on a year-over-year basis. On average, equities analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 15th. Telephone and Data Systems’s dividend payout ratio is presently -15.24%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James Financial increased their price objective on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Telephone and Data Systems from a “hold” rating to a “sell” rating in a report on Saturday.

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.