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Janney Montgomery Scott LLC Increases Position in Telephone and Data Systems, Inc. $TDS

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Key Points

  • Janney Montgomery Scott LLC increased its stake in Telephone and Data Systems, Inc. (TDS) by 45.7%, owning 36,708 shares worth approximately $1.3 million after acquiring an additional 11,521 shares in Q2.
  • Insider sales were significant, with CFO Vicki L. Villacrez selling 26,334 shares with a total value of over $1 million, indicating a 98.31% decrease in her ownership position.
  • Analysts have upgraded TDS with several reports, with Wall Street Zen and Zacks Research changing their ratings to "hold", while Raymond James and JPMorgan set an average target price of $52.00.
  • Interested in Telephone and Data Systems? Here are five stocks we like better.

Janney Montgomery Scott LLC boosted its holdings in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 45.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,708 shares of the Wireless communications provider's stock after purchasing an additional 11,521 shares during the quarter. Janney Montgomery Scott LLC's holdings in Telephone and Data Systems were worth $1,306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TDS. Nuveen LLC purchased a new stake in Telephone and Data Systems in the first quarter worth about $43,429,000. Carronade Capital Management LP raised its holdings in Telephone and Data Systems by 48.2% in the 1st quarter. Carronade Capital Management LP now owns 2,730,517 shares of the Wireless communications provider's stock worth $105,780,000 after acquiring an additional 888,108 shares during the last quarter. Third Point LLC lifted its position in Telephone and Data Systems by 12.7% in the 1st quarter. Third Point LLC now owns 6,760,000 shares of the Wireless communications provider's stock valued at $261,882,000 after acquiring an additional 760,000 shares in the last quarter. 140 Summer Partners LP bought a new position in Telephone and Data Systems in the 1st quarter valued at approximately $21,216,000. Finally, Hawk Ridge Capital Management LP bought a new position in Telephone and Data Systems in the 1st quarter valued at approximately $19,141,000. Hedge funds and other institutional investors own 80.00% of the company's stock.

Insider Activity at Telephone and Data Systems

In other Telephone and Data Systems news, CFO Vicki L. Villacrez sold 26,334 shares of Telephone and Data Systems stock in a transaction on Monday, August 18th. The shares were sold at an average price of $39.02, for a total value of $1,027,552.68. Following the sale, the chief financial officer directly owned 454 shares in the company, valued at approximately $17,715.08. The trade was a 98.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Prudence E. Carlson sold 4,452 shares of Telephone and Data Systems stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.50, for a total transaction of $171,402.00. Following the completion of the sale, the director owned 311,005 shares in the company, 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. In the last 90 days, insiders have sold 276,650 shares of company stock valued at $10,690,789. 14.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

TDS has been the topic of several analyst reports. Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Zacks Research raised Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. Raymond James Financial upped their price objective on 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. Weiss Ratings raised Telephone and Data Systems from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on 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. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $52.00.

Get Our Latest Report on TDS

Telephone and Data Systems Trading Down 3.2%

Shares of Telephone and Data Systems stock opened at $38.35 on Monday. The stock has a market capitalization of $4.41 billion, a PE ratio of -39.54 and a beta of 0.39. Telephone and Data Systems, Inc. has a 1-year low of $22.64 and a 1-year high of $42.74. The company's fifty day simple moving average is $38.80 and its 200-day simple moving average is $36.93. 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 (NYSE:TDS - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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%. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) earnings per share. As a group, equities analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were 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 was Monday, September 15th. Telephone and Data Systems's payout ratio is currently -16.49%.

Telephone and Data Systems Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Telephone and Data Systems (NYSE:TDS)

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