Northern Trust Corp Sells 26,263 Shares of Telephone and Data Systems, Inc. $TDS

Northern Trust Corp reduced its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,133,656 shares of the Wireless communications provider’s stock after selling 26,263 shares during the quarter. Northern Trust Corp owned approximately 0.99% of Telephone and Data Systems worth $43,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TDS. Tower Research Capital LLC TRC boosted its position in shares of Telephone and Data Systems by 116.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,973 shares of the Wireless communications provider’s stock worth $340,000 after purchasing an additional 5,365 shares during the period. Voya Investment Management LLC boosted its position in shares of Telephone and Data Systems by 1.6% in the fourth quarter. Voya Investment Management LLC now owns 52,577 shares of the Wireless communications provider’s stock worth $1,793,000 after purchasing an additional 808 shares during the period. Voleon Capital Management LP bought a new position in shares of Telephone and Data Systems during the fourth quarter worth $559,000. Third Point LLC boosted its position in shares of Telephone and Data Systems by 108.7% during the fourth quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider’s stock worth $204,660,000 after acquiring an additional 3,125,000 shares during the last quarter. Finally, Algert Global LLC boosted its position in shares of Telephone and Data Systems by 15.8% during the fourth quarter. Algert Global LLC now owns 284,856 shares of the Wireless communications provider’s stock worth $9,716,000 after acquiring an additional 38,770 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Telephone and Data Systems

In related news, SVP Joseph R. Hanley sold 68,759 shares of the company’s stock in a transaction on Monday, August 18th. The shares were 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 of the company’s stock, valued at $2,307,649.68. This represents a 53.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vicki L. Villacrez sold 26,334 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $39.02, for a total transaction of $1,027,552.68. Following the sale, the chief financial officer directly owned 454 shares in the company, valued at approximately $17,715.08. The trade was a 98.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,650 shares of company stock worth $10,690,789 in the last ninety days. Company insiders own 14.97% of the company’s stock.

Analyst Upgrades and Downgrades

TDS has been the subject of a number of research reports. JPMorgan Chase & Co. upped 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 research report on Tuesday, August 12th. Raymond James Financial upped their target price on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Telephone and Data Systems from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Telephone and Data Systems Price Performance

Telephone and Data Systems stock opened at $40.25 on Friday. The company has a market cap of $4.63 billion, a price-to-earnings ratio of -41.50 and a beta of 0.54. The firm’s fifty day moving average is $37.85 and its 200 day moving average is $36.45. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a 52-week low of $21.81 and a 52-week high of $42.74.

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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The business 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%. Telephone and Data Systems’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.13) EPS. Sell-side analysts forecast that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Telephone and Data Systems’s dividend payout ratio is presently -16.49%.

Telephone and Data Systems Company 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.