Empowered Funds LLC Has $15.15 Million Stake 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 lowered its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 13.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 391,180 shares of the Wireless communications provider's stock after selling 62,710 shares during the quarter. Empowered Funds LLC owned approximately 0.34% of Telephone and Data Systems worth $15,154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bayforest Capital Ltd increased its position in shares of Telephone and Data Systems by 121.8% in the first quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider's stock valued at $52,000 after acquiring an additional 737 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Telephone and Data Systems by 85.6% in the fourth quarter. Lazard Asset Management LLC now owns 4,092 shares of the Wireless communications provider's stock valued at $139,000 after acquiring an additional 1,887 shares during the last quarter. Forum Financial Management LP acquired a new stake in shares of Telephone and Data Systems in the first quarter valued at about $200,000. Greenleaf Trust acquired a new stake in shares of Telephone and Data Systems in the first quarter valued at about $202,000. Finally, Highland Capital Management LLC acquired a new stake in shares of Telephone and Data Systems in the first quarter valued at about $205,000. Institutional investors and hedge funds own 80.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Zacks Research upgraded Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. lifted their price target on Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Finally, Raymond James Financial lifted their price target on Telephone and Data Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.00.

Telephone and Data Systems Stock Performance

Shares of Telephone and Data Systems stock traded down $0.13 on Friday, hitting $39.25. The stock had a trading volume of 682,394 shares, compared to its average volume of 1,013,416. Telephone and Data Systems, Inc. has a twelve month low of $22.51 and a twelve month high of $42.74. The business's 50 day moving average is $38.81 and its two-hundred day moving average is $36.54. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.85. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of -40.46 and a beta of 0.48.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates 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%. Telephone and Data Systems's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.13) EPS. Analysts forecast 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 declared 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 of this dividend 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 currently -16.49%.

Insider Activity

In other Telephone and Data Systems news, Director Prudence E. Carlson sold 6,320 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $38.05, for a total transaction of $240,476.00. Following the completion of the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vicki L. Villacrez sold 73,878 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was 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 of the company's stock, valued at $3,150,640.80. This trade represents a 47.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,650 shares of company stock valued at $10,690,789 in the last three months. Company insiders own 14.48% of the company's stock.

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.