Atria Wealth Solutions Inc. lifted its holdings in United States Cellular Corporation (NYSE:USM - Free Report) by 100.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,000 shares of the Wireless communications provider's stock after buying an additional 7,000 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in United States Cellular were worth $968,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mackenzie Financial Corp purchased a new stake in United States Cellular during the 1st quarter valued at about $320,000. Private Management Group Inc. purchased a new stake in United States Cellular during the 1st quarter valued at about $211,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in United States Cellular during the 1st quarter valued at about $394,000. Y Intercept Hong Kong Ltd purchased a new stake in United States Cellular during the 1st quarter valued at about $226,000. Finally, Allianz Asset Management GmbH grew its position in United States Cellular by 25.9% during the 1st quarter. Allianz Asset Management GmbH now owns 4,490 shares of the Wireless communications provider's stock valued at $310,000 after purchasing an additional 924 shares during the last quarter. 18.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently commented on USM shares. Raymond James Financial reissued an "outperform" rating and set a $84.00 price objective (up from $78.00) on shares of United States Cellular in a research report on Friday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of United States Cellular from $85.00 to $87.00 and gave the company an "overweight" rating in a research report on Tuesday.
Read Our Latest Stock Report on USM
United States Cellular Stock Performance
Shares of NYSE USM traded up $3.63 during trading on Thursday, reaching $77.88. 1,000,445 shares of the company traded hands, compared to its average volume of 467,326. The firm has a 50 day simple moving average of $67.26 and a 200-day simple moving average of $65.74. The company has a quick ratio of 1.48, a current ratio of 1.70 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $6.62 billion, a PE ratio of -259.59 and a beta of 0.38. United States Cellular Corporation has a 52-week low of $51.20 and a 52-week high of $79.17.
United States Cellular (NYSE:USM - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The Wireless communications provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $916.00 million for the quarter, compared to the consensus estimate of $907.73 million. United States Cellular had a negative net margin of 0.68% and a positive return on equity of 1.68%. Equities research analysts anticipate that United States Cellular Corporation will post 0.57 earnings per share for the current year.
United States Cellular Increases Dividend
The firm also recently declared a special dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Monday, August 11th will be paid a dividend of $23.00 per share. The ex-dividend date is Wednesday, August 20th. This is a boost from United States Cellular's previous special dividend of $0.06.
United States Cellular Company Profile
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Free Report)
United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides wireless devices, such as handsets, tablets, mobile hotspots, home phones, and routers, as well as wireless essentials, including cases, screen protectors, chargers, and memory cards; and consumer electronics comprising audio, home automation, and networking products.
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