Raymond James Financial Inc. Increases Stock Position in Telephone and Data Systems, Inc. $TDS

Raymond James Financial Inc. raised its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 166,297 shares of the Wireless communications provider’s stock after purchasing an additional 1,575 shares during the period. Raymond James Financial Inc. owned 0.15% of Telephone and Data Systems worth $6,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in TDS. Bayforest Capital Ltd boosted its stake in Telephone and Data Systems by 121.8% during the first quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider’s stock valued at $52,000 after buying an additional 737 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Telephone and Data Systems by 85.6% during the 4th quarter. Lazard Asset Management LLC now owns 4,092 shares of the Wireless communications provider’s stock worth $139,000 after acquiring an additional 1,887 shares in the last quarter. Forum Financial Management LP purchased a new stake in shares of Telephone and Data Systems during the 1st quarter worth approximately $200,000. Greenleaf Trust bought a new position in shares of Telephone and Data Systems during the 1st quarter valued at approximately $202,000. Finally, Highland Capital Management LLC purchased a new position in shares of Telephone and Data Systems in the first quarter valued at $205,000. 80.00% of the stock is owned by institutional investors.

Insider Activity at Telephone and Data Systems

In other news, CFO Vicki L. Villacrez sold 26,334 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $39.02, for a total transaction of $1,027,552.68. Following the transaction, the chief financial officer owned 454 shares in the company, valued at approximately $17,715.08. This trade represents a 98.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Joseph R. Hanley sold 68,759 shares of the 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,650 shares of company stock worth $10,690,789. Insiders own 14.48% of the company’s stock.

Telephone and Data Systems Trading Up 3.2%

Shares of NYSE TDS opened at $40.73 on Thursday. Telephone and Data Systems, Inc. has a fifty-two week low of $21.81 and a fifty-two week high of $42.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.65 and a current ratio of 1.78. The company has a market cap of $4.68 billion, a price-to-earnings ratio of -41.99 and a beta of 0.48. The business’s 50 day moving average price is $38.30 and its 200-day moving average price is $36.50.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Monday, August 11th. The Wireless communications provider reported ($0.05) EPS 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 business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned ($0.13) EPS. The business’s revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts expect that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

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 paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -16.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TDS shares. Raymond James Financial upped their price target on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research note 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. JPMorgan Chase & Co. lifted their price target on 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. Finally, Wall Street Zen raised Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

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.