Hsbc Holdings PLC Has $1.15 Million Stock Holdings in 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 lifted its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 78.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Telephone and Data Systems by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,354,795 shares of the Wireless communications provider's stock worth $246,181,000 after acquiring an additional 107,501 shares during the period. American Century Companies Inc. increased its stake in Telephone and Data Systems by 7.5% during the 1st quarter. American Century Companies Inc. now owns 3,470,363 shares of the Wireless communications provider's stock valued at $134,442,000 after buying an additional 240,795 shares during the period. Carronade Capital Management LP acquired a new position in Telephone and Data Systems during the 4th quarter valued at about $62,845,000. Silver Point Capital L.P. raised its position in shares of Telephone and Data Systems by 47.2% during the 4th quarter. Silver Point Capital L.P. now owns 1,840,000 shares of the Wireless communications provider's stock worth $62,762,000 after buying an additional 590,000 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Telephone and Data Systems by 0.5% in the 4th quarter. Nuveen Asset Management LLC now owns 1,465,935 shares of the Wireless communications provider's stock worth $50,003,000 after acquiring an additional 6,914 shares during the period. 80.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TDS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Raymond James Financial raised 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 report on Tuesday, August 12th. 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. Finally, 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. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $52.00.

Insiders Place Their Bets

In related news, SVP Joseph R. Hanley sold 68,759 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.16, for a total transaction of $2,623,843.44. Following the transaction, the senior vice president directly owned 60,473 shares of the company's stock, valued at approximately $2,307,649.68. The trade was a 53.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Prudence E. Carlson sold 4,452 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $38.50, for a total value of $171,402.00. Following the completion of the sale, the director directly 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 disclosure for this sale can be found here. Insiders have sold 276,650 shares of company stock worth $10,690,789 over the last three months. Company insiders own 14.97% of the company's stock.

Telephone and Data Systems Trading Down 3.2%

NYSE TDS traded down $1.30 on Thursday, hitting $39.43. 1,233,850 shares of the company were exchanged, compared to its average volume of 1,326,443. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.78 and a quick ratio of 1.65. Telephone and Data Systems, Inc. has a twelve month low of $21.81 and a twelve month high of $42.74. The firm has a market capitalization of $4.53 billion, a P/E ratio of -40.64 and a beta of 0.48. The company's 50 day moving average price is $38.39 and its 200-day moving average price is $36.50.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced 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). Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%.The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business earned ($0.13) earnings per share. The business's quarterly revenue was down 5.7% compared to the same quarter last year. Analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

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

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.