Connor Clark & Lunn Investment Management Ltd. decreased its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 39.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,568 shares of the Wireless communications provider's stock after selling 64,839 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Telephone and Data Systems worth $3,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of TDS. Federated Hermes Inc. bought a new stake in Telephone and Data Systems during the 4th quarter valued at $56,000. Bank of Montreal Can grew its position in shares of Telephone and Data Systems by 5.5% during the 4th quarter. Bank of Montreal Can now owns 42,642 shares of the Wireless communications provider's stock valued at $1,455,000 after purchasing an additional 2,241 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Telephone and Data Systems during the 4th quarter valued at $5,619,000. Sterling Capital Management LLC grew its position in shares of Telephone and Data Systems by 33.7% during the 4th quarter. Sterling Capital Management LLC now owns 11,238 shares of the Wireless communications provider's stock valued at $383,000 after purchasing an additional 2,835 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its position in shares of Telephone and Data Systems by 4.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,319 shares of the Wireless communications provider's stock valued at $352,000 after purchasing an additional 482 shares in the last quarter. Institutional investors own 80.00% of the company's stock.
Telephone and Data Systems Stock Up 0.1%
TDS traded up $0.04 during midday trading on Monday, reaching $38.54. The company's stock had a trading volume of 325,077 shares, compared to its average volume of 1,061,929. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of -39.69 and a beta of 0.54. The company has a current ratio of 1.78, a quick ratio of 1.65 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a 1 year low of $20.38 and a 1 year high of $42.74. The stock's 50-day moving average is $36.92 and its 200-day moving average is $36.27.
Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. The company's quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.13) EPS. As a group, research analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.
Telephone and Data Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, September 15th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Telephone and Data Systems's dividend payout ratio is -16.49%.
Insider Activity at Telephone and Data Systems
In related news, CFO Vicki L. Villacrez sold 73,878 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $38.88, for a total transaction of $2,872,376.64. Following the transaction, the chief financial officer owned 81,035 shares in the company, valued at $3,150,640.80. This represents a 47.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Prudence E. Carlson sold 6,320 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $38.05, for a total transaction of $240,476.00. Following the completion of the transaction, the director owned 315,457 shares in the company, valued at $12,003,138.85. The trade was a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,497 shares of company stock worth $6,531,504 over the last quarter. Company insiders own 14.97% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on TDS shares. JPMorgan Chase & Co. upped their target price on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Raymond James Financial upped their price objective on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Sunday.
View Our Latest Research Report on Telephone and Data Systems
Telephone and Data Systems Company Profile
(
Free Report)
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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