Invesco Ltd. Lowers Stock Holdings in Telephone and Data Systems, Inc. $TDS

Key Points

• Invesco Ltd. reduced its stake in Telephone and Data Systems, Inc. by 0.9%, owning 1,277,222 shares worth approximately $49.5 million after selling 11,272 shares in the first quarter.
• Analyst reports revealed an increase in price targets for Telephone and Data Systems from JPMorgan and Raymond James, indicating an "overweight" and "outperform" rating, respectively.
• The company is set to pay a quarterly dividend of $0.04 on September 30th, with a current annualized dividend yield of 0.4%.

Invesco Ltd. lessened its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,277,222 shares of the Wireless communications provider's stock after selling 11,272 shares during the quarter. Invesco Ltd. owned about 1.12% of Telephone and Data Systems worth $49,480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Xponance Inc. increased its holdings in shares of Telephone and Data Systems by 4.5% in the first quarter. Xponance Inc. now owns 7,485 shares of the Wireless communications provider's stock valued at $290,000 after purchasing an additional 324 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Telephone and Data Systems by 4.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,319 shares of the Wireless communications provider's stock valued at $352,000 after purchasing an additional 482 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Telephone and Data Systems by 8.0% in the first quarter. Sequoia Financial Advisors LLC now owns 6,544 shares of the Wireless communications provider's stock valued at $254,000 after purchasing an additional 485 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Telephone and Data Systems by 8.7% in the first quarter. GAMMA Investing LLC now owns 6,243 shares of the Wireless communications provider's stock valued at $242,000 after purchasing an additional 501 shares during the last quarter. Finally, OneDigital Investment Advisors LLC increased its holdings in shares of Telephone and Data Systems by 5.8% in the first quarter. OneDigital Investment Advisors LLC now owns 9,648 shares of the Wireless communications provider's stock valued at $374,000 after purchasing an additional 531 shares during the last quarter. Institutional investors and hedge funds own 80.00% of the company's stock.

Insider Transactions at Telephone and Data Systems

In other news, Director Prudence E. Carlson sold 6,320 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was 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. This trade represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vicki L. Villacrez sold 73,878 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $38.88, for a total value of $2,872,376.64. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 276,650 shares of company stock valued at $10,690,789. Corporate insiders own 14.97% of the company's stock.

Analyst Upgrades and Downgrades

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

Telephone and Data Systems Trading Up 0.4%

Telephone and Data Systems stock traded up $0.17 during mid-day trading on Friday, hitting $39.49. The company's stock had a trading volume of 422,626 shares, compared to its average volume of 1,061,770. The firm has a market capitalization of $4.50 billion, a PE ratio of -40.73 and a beta of 0.54. Telephone and Data Systems, Inc. has a 1 year low of $21.08 and a 1 year high of $42.74. The company has a current ratio of 1.78, a quick ratio of 1.65 and a debt-to-equity ratio of 0.85. The stock's fifty day moving average is $37.26 and its two-hundred day moving average is $36.36.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%.The company's revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.13) earnings per share. On average, analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

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

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.