Intech Investment Management LLC Sells 29,017 Shares of Telephone and Data Systems, Inc. $TDS

Key Points

• Intech Investment Management cut its stake in Telephone and Data Systems by 23.3% in the fourth quarter, selling 29,017 shares and ending with 95,393 shares valued at about $3.9 million.
• Analyst sentiment is mixed but broadly cautious: Telephone and Data Systems has a consensus Hold rating with an average target price of $53.33, while Citigroup recently raised its target to $56 and Raymond James lowered its rating to Market Perform.
• The company reported a strong quarterly earnings beat, posting $1.11 EPS versus expectations for a loss, and it also declared a quarterly dividend of $0.04 per share, implying an annual yield of about 0.4%.

Intech Investment Management LLC trimmed its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 23.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,393 shares of the Wireless communications provider's stock after selling 29,017 shares during the quarter. Intech Investment Management LLC owned approximately 0.08% of Telephone and Data Systems worth $3,911,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Salomon & Ludwin LLC boosted its position in Telephone and Data Systems by 51.3% during the 4th quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider's stock valued at $28,000 after acquiring an additional 231 shares in the last quarter. HighTower Advisors LLC boosted its position in Telephone and Data Systems by 4.3% during the 4th quarter. HighTower Advisors LLC now owns 5,866 shares of the Wireless communications provider's stock valued at $241,000 after acquiring an additional 240 shares in the last quarter. Bessemer Group Inc. boosted its position in Telephone and Data Systems by 65.6% during the 3rd quarter. Bessemer Group Inc. now owns 699 shares of the Wireless communications provider's stock valued at $28,000 after acquiring an additional 277 shares in the last quarter. Truist Financial Corp boosted its position in Telephone and Data Systems by 0.9% during the 3rd quarter. Truist Financial Corp now owns 36,829 shares of the Wireless communications provider's stock valued at $1,445,000 after acquiring an additional 316 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in Telephone and Data Systems by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,522 shares of the Wireless communications provider's stock valued at $923,000 after acquiring an additional 400 shares in the last quarter. 80.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of Telephone and Data Systems from $51.00 to $56.00 and gave the company a "buy" rating in a report on Monday, February 23rd. Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Saturday. Weiss Ratings upgraded shares of Telephone and Data Systems from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, February 24th. Finally, Raymond James Financial lowered shares of Telephone and Data Systems from an "outperform" rating to a "market perform" rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Telephone and Data Systems currently has a consensus rating of "Hold" and an average target price of $53.33.

Telephone and Data Systems Price Performance

Shares of NYSE TDS opened at $39.44 on Tuesday. Telephone and Data Systems, Inc. has a twelve month low of $32.60 and a twelve month high of $49.12. The firm has a market cap of $4.49 billion, a P/E ratio of 74.42 and a beta of 0.28. The company has a 50 day moving average of $43.32 and a 200 day moving average of $42.60. The company has a quick ratio of 3.42, a current ratio of 3.43 and a debt-to-equity ratio of 0.16.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.87) by $1.98. Telephone and Data Systems had a net margin of 6.15% and a return on equity of 5.54%. The company had revenue of $309.45 million during the quarter, compared to analyst estimates of $313.28 million. During the same period in the previous year, the business earned ($0.09) EPS. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts expect that Telephone and Data Systems, Inc. will post 0.94 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, June 16th. Telephone and Data Systems's payout ratio is presently 30.19%.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc NYSE: TDS is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.

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