Hsbc Holdings PLC Buys 13,064 Shares of Telephone and Data Systems, Inc. $TDS

Key Points

• Hsbc Holdings PLC raised its stake in Telephone and Data Systems, Inc. by 78.1%, owning a total of 29,782 shares worth approximately $1.15 million.
• The company reported a quarterly loss of ($0.05) per share, missing analyst expectations, with a revenue of $1.19 billion, down 5.7% year-over-year.
• A quarterly dividend of $0.04 will be paid on September 30th, representing an annualized yield of 0.4%.

Hsbc Holdings PLC grew its position in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 78.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 29,782 shares of the Wireless communications provider's stock after buying an additional 13,064 shares during the period. Hsbc Holdings PLC's holdings in Telephone and Data Systems were worth $1,149,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TDS. Tower Research Capital LLC TRC raised its holdings in Telephone and Data Systems by 116.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,973 shares of the Wireless communications provider's stock worth $340,000 after buying an additional 5,365 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Telephone and Data Systems by 1.6% during the fourth quarter. Voya Investment Management LLC now owns 52,577 shares of the Wireless communications provider's stock valued at $1,793,000 after purchasing an additional 808 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Telephone and Data Systems by 9.1% during the fourth quarter. Northern Trust Corp now owns 1,159,919 shares of the Wireless communications provider's stock valued at $39,565,000 after purchasing an additional 96,849 shares during the last quarter. Voleon Capital Management LP purchased a new position in shares of Telephone and Data Systems during the fourth quarter valued at approximately $559,000. Finally, Algert Global LLC raised its holdings in shares of Telephone and Data Systems by 15.8% during the fourth quarter. Algert Global LLC now owns 284,856 shares of the Wireless communications provider's stock valued at $9,716,000 after purchasing an additional 38,770 shares during the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Price Performance

Shares of TDS traded up $0.86 during mid-day trading on Wednesday, reaching $40.33. The stock had a trading volume of 667,653 shares, compared to its average volume of 1,070,162. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.65 and a current ratio of 1.78. The business has a fifty day moving average of $38.19 and a 200 day moving average of $36.47. Telephone and Data Systems, Inc. has a 12 month low of $21.81 and a 12 month high of $42.74. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of -41.55 and a beta of 0.48.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). The business 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%. 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 earned ($0.13) EPS. Equities analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Telephone and Data Systems's dividend payout ratio is currently -16.49%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Raymond James Financial boosted 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 report on Tuesday, August 12th. JPMorgan Chase & Co. boosted their target price on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the company an "overweight" rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.00.

Insider Activity

In other news, Director Prudence E. Carlson sold 4,452 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.50, for a total value of $171,402.00. Following the sale, the director owned 311,005 shares of the company's stock, valued at approximately $11,973,692.50. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Anita J. Kroll sold 8,608 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $39.09, for a total transaction of $336,486.72. Following the completion of the sale, the chief accounting officer directly owned 17,087 shares in the company, valued at approximately $667,930.83. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,650 shares of company stock worth $10,690,789. Insiders own 14.48% of the company's stock.

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.