Telephone and Data Systems, Inc. $TDS Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,986 shares of the Wireless communications provider’s stock after acquiring an additional 540 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Telephone and Data Systems were worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Third Point LLC lifted its holdings in Telephone and Data Systems by 12.7% in the 1st quarter. Third Point LLC now owns 6,760,000 shares of the Wireless communications provider’s stock valued at $261,882,000 after acquiring an additional 760,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Telephone and Data Systems by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,354,795 shares of the Wireless communications provider’s stock valued at $246,181,000 after acquiring an additional 107,501 shares during the last quarter. American Century Companies Inc. lifted its holdings in Telephone and Data Systems by 7.5% in the 1st quarter. American Century Companies Inc. now owns 3,470,363 shares of the Wireless communications provider’s stock valued at $134,442,000 after acquiring an additional 240,795 shares during the last quarter. Carronade Capital Management LP lifted its holdings in Telephone and Data Systems by 48.2% in the 1st quarter. Carronade Capital Management LP now owns 2,730,517 shares of the Wireless communications provider’s stock valued at $105,780,000 after acquiring an additional 888,108 shares during the last quarter. Finally, Silver Point Capital L.P. lifted its holdings in Telephone and Data Systems by 19.8% in the 1st quarter. Silver Point Capital L.P. now owns 2,205,000 shares of the Wireless communications provider’s stock valued at $85,422,000 after acquiring an additional 365,000 shares during the last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. 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 report on Tuesday, August 12th. JPMorgan Chase & Co. upped their price target on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 12th. Zacks Research upgraded Telephone and Data Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 13th. Weiss Ratings upgraded Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Telephone and Data Systems has an average rating of “Moderate Buy” and a consensus target price of $52.00.

Insiders Place Their Bets

In other news, CFO Vicki L. Villacrez sold 73,878 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $38.88, for a total value of $2,872,376.64. Following the transaction, the chief financial officer owned 81,035 shares in the company, valued at $3,150,640.80. This represents a 47.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Prudence E. Carlson sold 6,320 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $38.05, for a total value of $240,476.00. Following the completion of the sale, the director directly owned 315,457 shares of the company’s stock, valued at approximately $12,003,138.85. The trade was a 1.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,650 shares of company stock worth $10,690,789 over the last quarter. Company insiders own 14.48% of the company’s stock.

Telephone and Data Systems Price Performance

Shares of TDS opened at $38.35 on Monday. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -39.54 and a beta of 0.39. Telephone and Data Systems, Inc. has a fifty-two week low of $22.64 and a fifty-two week high of $42.74. 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 business’s 50-day moving average is $38.80 and its 200-day moving average is $36.93.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The business had revenue of $1.19 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.13) EPS. Equities research analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.04 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Telephone and Data Systems’s dividend payout ratio is currently -16.49%.

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.