Empowered Funds LLC Has $15.15 Million Stock Position in Telephone and Data Systems, Inc. $TDS

Key Points

• Empowered Funds LLC decreased its position in Telephone and Data Systems, Inc. by 13.8%, holding 391,180 shares valued at approximately $15.15 million at the end of the 1st quarter.
• Recent analyst ratings show a positive outlook with JPMorgan Chase raising their target price from $53 to $54, while the stock maintains a consensus target of $52.
• Telephone and Data Systems reported a quarterly earnings miss with a loss of ($0.05) per share, against analysts' expectations, while also disclosing a dividend of $0.04 to be paid on September 30th.

Empowered Funds LLC cut its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 391,180 shares of the Wireless communications provider's stock after selling 62,710 shares during the quarter. Empowered Funds LLC owned about 0.34% of Telephone and Data Systems worth $15,154,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Telephone and Data Systems by 21.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,500 shares of the Wireless communications provider's stock worth $329,000 after buying an additional 1,500 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Telephone and Data Systems by 8.0% during the first quarter. Sequoia Financial Advisors LLC now owns 6,544 shares of the Wireless communications provider's stock worth $254,000 after buying an additional 485 shares during the period. Oppenheimer & Co. Inc. bought a new position in Telephone and Data Systems during the first quarter worth $215,000. Wealth Enhancement Advisory Services LLC bought a new position in Telephone and Data Systems during the fourth quarter worth $237,000. Finally, GAMMA Investing LLC boosted its stake in Telephone and Data Systems by 8.7% during the first quarter. GAMMA Investing LLC now owns 6,243 shares of the Wireless communications provider's stock worth $242,000 after acquiring an additional 501 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased 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 note on Tuesday, August 12th. Zacks Research raised shares of Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Raymond James Financial increased their target price on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the stock 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, August 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.00.

Telephone and Data Systems Stock Down 2.9%

Telephone and Data Systems stock opened at $38.38 on Tuesday. Telephone and Data Systems, Inc. has a 1-year low of $21.81 and a 1-year high of $42.74. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -39.56 and a beta of 0.48. The firm's fifty day moving average price is $38.55 and its two-hundred day moving average price is $36.45. 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 (NYSE:TDS - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted ($0.13) earnings per share. The firm's quarterly revenue was down 5.7% on a year-over-year basis. On average, equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Telephone and Data Systems's dividend payout ratio (DPR) is -16.49%.

Insider Buying and Selling at Telephone and Data Systems

In other news, CAO Anita J. Kroll sold 29,047 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $39.02, for a total value of $1,133,413.94. Following the completion of the sale, the chief accounting officer owned 19,892 shares in the company, valued at $776,185.84. This represents a 59.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vicki L. Villacrez sold 73,878 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer owned 81,035 shares of the company's stock, valued at approximately $3,150,640.80. This represents a 47.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,650 shares of company stock valued at $10,690,789 over the last ninety days. 14.97% of the stock is currently owned by corporate insiders.

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.

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