Deutsche Bank AG Cuts Position in Telephone and Data Systems, Inc. $TDS

Deutsche Bank AG cut its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 9.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,852 shares of the Wireless communications provider’s stock after selling 7,851 shares during the quarter. Deutsche Bank AG owned about 0.07% of Telephone and Data Systems worth $3,093,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Telephone and Data Systems by 21.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,500 shares of the Wireless communications provider’s stock valued at $329,000 after acquiring an additional 1,500 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Telephone and Data Systems by 8.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,544 shares of the Wireless communications provider’s stock valued at $254,000 after acquiring an additional 485 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Telephone and Data Systems in the 1st quarter valued at $215,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Telephone and Data Systems in the 4th quarter valued at $237,000. Finally, GAMMA Investing LLC grew its stake in Telephone and Data Systems by 8.7% during the 1st quarter. GAMMA Investing LLC now owns 6,243 shares of the Wireless communications provider’s stock worth $242,000 after buying an additional 501 shares during the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Telephone and Data Systems Stock Up 1.7%

Shares of TDS stock opened at $39.16 on Tuesday. Telephone and Data Systems, Inc. has a 1-year low of $20.38 and a 1-year high of $42.74. The stock’s fifty day moving average price is $36.99 and its 200 day moving average price is $36.29. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.78 and a quick ratio of 1.65. The company has a market cap of $4.46 billion, a price-to-earnings ratio of -40.37 and a beta of 0.54.

Telephone and Data Systems (NYSE:TDS) last posted 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). The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.13) EPS. On average, research analysts expect that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid 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 payout ratio is presently -16.49%.

Analysts Set New Price Targets

Several research analysts recently weighed in on TDS shares. JPMorgan Chase & Co. boosted their target price on Telephone and Data Systems from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Raymond James Financial boosted their target price on Telephone and Data Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th.

Insider Transactions at Telephone and Data Systems

In other Telephone and Data Systems news, SVP Joseph R. Hanley sold 68,759 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.16, for a total transaction of $2,623,843.44. Following the sale, the senior vice president owned 60,473 shares in the company, valued at approximately $2,307,649.68. The trade was a 53.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Prudence E. Carlson sold 4,452 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $38.50, for a total value of $171,402.00. Following the sale, the director owned 311,005 shares in the company, valued at approximately $11,973,692.50. The trade was a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 268,042 shares of company stock worth $10,354,302 in the last 90 days. 14.48% of the stock is owned by company insiders.

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.