Croban Acquires New Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Croban acquired a new stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 37,368 shares of the Wireless communications provider's stock, valued at approximately $1,447,000. Telephone and Data Systems comprises about 1.3% of Croban's holdings, making the stock its 21st largest holding.

A number of other institutional investors have also modified their holdings of the business. Greenleaf Trust bought a new stake in shares of Telephone and Data Systems during the 1st quarter valued at about $202,000. OneDigital Investment Advisors LLC boosted its holdings in shares of Telephone and Data Systems by 5.8% in the first quarter. OneDigital Investment Advisors LLC now owns 9,648 shares of the Wireless communications provider's stock valued at $374,000 after acquiring an additional 531 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Telephone and Data Systems by 2.7% in the first quarter. Principal Financial Group Inc. now owns 485,690 shares of the Wireless communications provider's stock valued at $18,816,000 after acquiring an additional 12,702 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Telephone and Data Systems by 21.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,500 shares of the Wireless communications provider's stock valued at $329,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Highland Capital Management LLC bought a new position in shares of Telephone and Data Systems in the first quarter valued at approximately $205,000. Institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Stock Up 0.9%

TDS stock opened at $39.47 on Friday. Telephone and Data Systems, Inc. has a 12 month low of $17.90 and a 12 month high of $41.21. The firm has a market cap of $4.50 billion, a PE ratio of -37.59 and a beta of 0.51. The firm has a 50 day simple moving average of $34.61 and a 200 day simple moving average of $35.55. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.74 and a quick ratio of 1.55.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its 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 business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The firm's revenue for the quarter was down 8.6% on a year-over-year basis. Equities research analysts forecast that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Telephone and Data Systems from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Raymond James Financial reiterated an "outperform" rating and issued a $47.00 price objective (down from $51.00) on shares of Telephone and Data Systems in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating for the company 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.

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