Allianz Asset Management GmbH Acquires 31,529 Shares of Telephone and Data Systems, Inc. $TDS

Key Points

• Allianz Asset Management GmbH increased its stake in Telephone and Data Systems, Inc. by 9.2%, acquiring an additional 31,529 shares during the second quarter, bringing its total ownership to approximately $13.37 million.
• Multiple institutional investors, including GAMMA Investing LLC and Janney Montgomery Scott LLC, have also raised their holdings in TDS, indicating strong institutional interest in the stock.
• Analysts have upgraded TDS from "sell" to "hold" ratings, with an average consensus price target of $52.00, suggesting potential growth for investors.

Allianz Asset Management GmbH grew its holdings in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 375,781 shares of the Wireless communications provider's stock after acquiring an additional 31,529 shares during the quarter. Allianz Asset Management GmbH owned 0.33% of Telephone and Data Systems worth $13,370,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TDS. GAMMA Investing LLC grew its holdings in shares of Telephone and Data Systems by 8.7% during the first quarter. GAMMA Investing LLC now owns 6,243 shares of the Wireless communications provider's stock worth $242,000 after buying an additional 501 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Telephone and Data Systems by 10.9% during the first quarter. Janney Montgomery Scott LLC now owns 25,187 shares of the Wireless communications provider's stock worth $976,000 after buying an additional 2,474 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Telephone and Data Systems by 14.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,908 shares of the Wireless communications provider's stock worth $268,000 after buying an additional 892 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Telephone and Data Systems during the first quarter worth about $215,000. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Telephone and Data Systems by 8.0% during the first quarter. Sequoia Financial Advisors LLC now owns 6,544 shares of the Wireless communications provider's stock worth $254,000 after buying an additional 485 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TDS has been the subject of a number of research reports. Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Weiss Ratings upgraded Telephone and Data Systems from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, October 8th. Zacks Research raised Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. Raymond James Financial increased their price target on Telephone and Data Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. increased their price target on Telephone and Data Systems from $53.00 to $54.00 and gave the company an "overweight" rating in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.00.

Telephone and Data Systems Stock Performance

Shares of NYSE TDS opened at $38.81 on Tuesday. The stock has a 50 day moving average price of $38.88 and a 200 day moving average price of $36.95. Telephone and Data Systems, Inc. has a 52 week low of $26.95 and a 52 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 stock has a market capitalization of $4.46 billion, a PE ratio of -40.01 and a beta of 0.39.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly earnings data 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). 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 analyst estimates of $1.17 billion. During the same period in the previous year, the business earned ($0.13) earnings per share. The business's quarterly revenue was down 5.7% on a year-over-year basis. Analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, September 15th. Telephone and Data Systems's dividend payout ratio (DPR) is presently -16.49%.

Insiders Place Their Bets

In other news, CAO Anita J. Kroll sold 8,608 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $39.09, for a total value of $336,486.72. Following the completion of the sale, the chief accounting officer directly owned 17,087 shares of the company's stock, valued at $667,930.83. This trade represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Prudence E. Carlson sold 4,452 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.50, for a total value of $171,402.00. Following the completion of the sale, the director directly owned 311,005 shares of the company's stock, valued at approximately $11,973,692.50. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 276,650 shares of company stock valued at $10,690,789. Corporate insiders own 14.48% of the company's stock.

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.

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