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

Several other hedge funds and other institutional investors have also recently modified their holdings of TDS. Third Point LLC increased its stake in shares of Telephone and Data Systems by 108.7% in the 4th quarter. Third Point LLC now owns 6,000,000 shares of the Wireless communications provider's stock worth $204,660,000 after purchasing an additional 3,125,000 shares in the last quarter. Carronade Capital Management LP purchased a new stake in Telephone and Data Systems in the 4th quarter worth $62,845,000. Norges Bank purchased a new stake in Telephone and Data Systems in the 4th quarter worth $23,776,000. Silver Point Capital L.P. increased its stake in Telephone and Data Systems by 47.2% in the 4th quarter. Silver Point Capital L.P. now owns 1,840,000 shares of the Wireless communications provider's stock worth $62,762,000 after buying an additional 590,000 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Telephone and Data Systems by 189.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 730,730 shares of the Wireless communications provider's stock worth $24,925,000 after buying an additional 477,945 shares in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Telephone and Data Systems Price Performance

Shares of TDS traded up $0.13 during midday trading on Tuesday, hitting $39.11. 279,257 shares of the company traded hands, compared to its average volume of 1,016,199. The firm has a 50 day moving average of $35.76 and a 200-day moving average of $35.98. Telephone and Data Systems, Inc. has a 52 week low of $17.90 and a 52 week high of $42.74. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of -37.21 and a beta of 0.51. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.55 and a current ratio of 1.74.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $1.18 billion. During the same period last year, the company earned $0.10 EPS. The firm's revenue for the quarter was down 8.6% on a year-over-year basis. On average, analysts forecast that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, June 16th. Telephone and Data Systems's payout ratio is -15.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, May 28th. Raymond James Financial reiterated an "outperform" rating and issued a $49.00 price target (up previously from $47.00) on shares of Telephone and Data Systems in a research note on Friday. Finally, Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th.

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.