Charles Schwab Investment Management Inc. Has $13.06 Million Stock Position in United States Cellular Corporation $USM

Charles Schwab Investment Management Inc. grew its position in United States Cellular Corporation (NYSE:USM) by 9.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,880 shares of the Wireless communications provider’s stock after buying an additional 15,932 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.22% of United States Cellular worth $13,061,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of United States Cellular during the first quarter worth approximately $195,000. Handelsbanken Fonder AB acquired a new stake in shares of United States Cellular during the first quarter worth approximately $235,000. Deutsche Bank AG acquired a new stake in shares of United States Cellular during the fourth quarter worth approximately $431,000. Ameriprise Financial Inc. boosted its holdings in shares of United States Cellular by 0.6% during the fourth quarter. Ameriprise Financial Inc. now owns 227,397 shares of the Wireless communications provider’s stock worth $14,262,000 after purchasing an additional 1,350 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of United States Cellular by 25.9% during the first quarter. Allianz Asset Management GmbH now owns 4,490 shares of the Wireless communications provider’s stock worth $310,000 after purchasing an additional 924 shares during the period. 18.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on USM. Raymond James Financial restated an “outperform” rating and set a $84.00 price target (up from $78.00) on shares of United States Cellular in a report on Friday, July 25th. JPMorgan Chase & Co. raised their price target on shares of United States Cellular from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $85.33.

United States Cellular Price Performance

The firm has a market capitalization of $6.62 billion, a PE ratio of -259.59 and a beta of 0.38. The company has a 50-day simple moving average of $69.51 and a 200 day simple moving average of $66.47. United States Cellular Corporation has a one year low of $51.20 and a one year high of $79.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.70 and a quick ratio of 1.48.

United States Cellular (NYSE:USM) last announced its earnings results on Monday, August 11th. The Wireless communications provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. United States Cellular had a positive return on equity of 1.68% and a negative net margin of 0.68%.The firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $907.73 million. As a group, equities analysts anticipate that United States Cellular Corporation will post 0.57 EPS for the current year.

United States Cellular Increases Dividend

The firm also recently announced a special dividend, which was paid on Tuesday, August 19th. Stockholders of record on Monday, August 11th were given a dividend of $23.00 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This is a boost from United States Cellular’s previous special dividend of $0.06.

About United States Cellular

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides wireless devices, such as handsets, tablets, mobile hotspots, home phones, and routers, as well as wireless essentials, including cases, screen protectors, chargers, and memory cards; and consumer electronics comprising audio, home automation, and networking products.