Bank of New York Mellon Corp Sells 31,577 Shares of Telephone and Data Systems, Inc. $TDS

Bank of New York Mellon Corp decreased its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 3.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 826,873 shares of the Wireless communications provider’s stock after selling 31,577 shares during the period. Bank of New York Mellon Corp owned 0.73% of Telephone and Data Systems worth $34,811,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Captrust Financial Advisors increased its position in shares of Telephone and Data Systems by 3.8% during the fourth quarter. Captrust Financial Advisors now owns 6,026 shares of the Wireless communications provider’s stock valued at $247,000 after buying an additional 220 shares during the period. Salomon & Ludwin LLC boosted its position in shares of Telephone and Data Systems by 51.3% in the fourth quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock valued at $28,000 after acquiring an additional 231 shares during the period. CIBC Asset Management Inc grew its stake in Telephone and Data Systems by 2.4% during the fourth quarter. CIBC Asset Management Inc now owns 9,804 shares of the Wireless communications provider’s stock valued at $402,000 after acquiring an additional 232 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in Telephone and Data Systems by 1.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 14,362 shares of the Wireless communications provider’s stock valued at $589,000 after acquiring an additional 233 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in Telephone and Data Systems by 4.3% during the 4th quarter. HighTower Advisors LLC now owns 5,866 shares of the Wireless communications provider’s stock worth $241,000 after acquiring an additional 240 shares during the period. Institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Price Performance

TDS stock opened at $34.33 on Monday. The firm has a 50 day simple moving average of $37.70 and a two-hundred day simple moving average of $42.00. The stock has a market cap of $3.91 billion, a PE ratio of 64.77 and a beta of 0.30. Telephone and Data Systems, Inc. has a one year low of $33.01 and a one year high of $49.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.43 and a quick ratio of 3.42.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of ($0.87) by $1.98. Telephone and Data Systems had a net margin of 6.15% and a return on equity of 5.54%. The firm had revenue of $309.45 million for the quarter, compared to analysts’ expectations of $313.27 million. During the same quarter last year, the company posted ($0.09) EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts predict that Telephone and Data Systems, Inc. will post 0.94 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.16 annualized dividend and a yield of 0.5%. Telephone and Data Systems’s payout ratio is 30.19%.

Analyst Upgrades and Downgrades

TDS has been the topic of several recent analyst reports. Raymond James Financial cut shares of Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Weiss Ratings downgraded Telephone and Data Systems from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Telephone and Data Systems has an average rating of “Hold” and an average target price of $53.33.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.