Allianz Asset Management GmbH Has $13.34 Million Stock Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Key Points

• Allianz Asset Management GmbH reduced its holdings in Telephone and Data Systems, Inc. by 7.2% in the first quarter, owning 344,252 shares worth approximately $13.3 million at the quarter's end.
• Wall Street analysts have varied opinions on the stock, with Raymond James raising their price target to $49.00 while JPMorgan Chase & Co. reduced theirs to $53.00.
• Telephone and Data Systems reported a quarterly revenue decline of 8.6% year-over-year, with earnings per share missing estimates, indicating challenges for the company despite paying a small quarterly dividend.

Allianz Asset Management GmbH trimmed its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 344,252 shares of the Wireless communications provider's stock after selling 26,887 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.30% of Telephone and Data Systems worth $13,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in TDS. Federated Hermes Inc. acquired a new position in Telephone and Data Systems in the fourth quarter worth approximately $56,000. Lazard Asset Management LLC increased its holdings in Telephone and Data Systems by 85.6% in the fourth quarter. Lazard Asset Management LLC now owns 4,092 shares of the Wireless communications provider's stock worth $139,000 after buying an additional 1,887 shares during the last quarter. Forum Financial Management LP acquired a new position in Telephone and Data Systems in the first quarter worth approximately $200,000. Greenleaf Trust acquired a new position in Telephone and Data Systems in the first quarter worth approximately $202,000. Finally, Highland Capital Management LLC acquired a new position in Telephone and Data Systems in the first quarter worth approximately $205,000. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Telephone and Data Systems Stock Performance

TDS stock traded up $0.15 during midday trading on Friday, hitting $40.05. 3,423,663 shares of the company traded hands, compared to its average volume of 1,349,458. Telephone and Data Systems, Inc. has a twelve month low of $17.90 and a twelve month high of $42.74. The company has a quick ratio of 1.55, a current ratio of 1.74 and a debt-to-equity ratio of 0.85. The business has a 50 day simple moving average of $35.67 and a 200-day simple moving average of $35.92. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of -38.15 and a beta of 0.51.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Telephone and Data Systems had a negative net margin of 1.03% and a positive return on equity of 0.73%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business earned $0.10 EPS. The company's revenue for the quarter was down 8.6% on a year-over-year basis. As a group, equities research analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.16 annualized dividend and a yield of 0.40%. Telephone and Data Systems's dividend payout ratio (DPR) is presently -15.24%.

Analyst Ratings Changes

A number of equities analysts recently commented on TDS shares. Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Raymond James Financial restated an "outperform" rating and issued a $49.00 price objective (up previously from $47.00) on shares of Telephone and Data Systems in a report on Friday. Finally, JPMorgan Chase & Co. dropped their price objective on Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, May 28th.

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.