Northern Trust Corp Has $43.92 Million Holdings in Telephone and Data Systems, Inc. $TDS

Key Points

• Northern Trust Corp reduced its holdings in Telephone and Data Systems, Inc. by selling 26,263 shares, resulting in ownership of approximately 1,133,656 shares, valued at about $43.9 million.
• Institutional investors currently hold 80% of TDS stock, indicating strong interest from larger financial entities.
• The company recently reported an earnings miss, with an earnings per share (EPS) of ($0.05), compared to analyst expectations of ($0.01).

Northern Trust Corp decreased its holdings in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,133,656 shares of the Wireless communications provider's stock after selling 26,263 shares during the quarter. Northern Trust Corp owned 0.99% of Telephone and Data Systems worth $43,918,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bayforest Capital Ltd grew its position in Telephone and Data Systems by 121.8% in the first quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider's stock worth $52,000 after buying an additional 737 shares during the last quarter. Lazard Asset Management LLC grew its position in Telephone and Data Systems by 85.6% in the fourth quarter. Lazard Asset Management LLC now owns 4,092 shares of the Wireless communications provider's stock worth $139,000 after buying an additional 1,887 shares during the last quarter. Forum Financial Management LP acquired a new position in Telephone and Data Systems in the first quarter worth approximately $200,000. Greenleaf Trust purchased a new position in Telephone and Data Systems during the 1st quarter worth approximately $202,000. Finally, Highland Capital Management LLC purchased a new position in Telephone and Data Systems during the 1st quarter worth approximately $205,000. Institutional investors and hedge funds own 80.00% of the company's stock.

Telephone and Data Systems Stock Up 3.2%

Shares of Telephone and Data Systems stock traded up $1.26 on Wednesday, hitting $40.73. 1,313,432 shares of the company traded hands, compared to its average volume of 1,347,166. The company has a 50-day moving average price of $38.30 and a 200 day moving average price of $36.50. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a 12-month low of $21.81 and a 12-month high of $42.74. The company has a market cap of $4.68 billion, a PE ratio of -41.99 and a beta of 0.48.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its quarterly 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 negative net margin of 0.85% and a positive return on equity of 0.92%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The company's revenue was down 5.7% on a year-over-year basis. Sell-side analysts predict 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 will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued 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 payout ratio is currently -16.49%.

Insider Activity at Telephone and Data Systems

In other news, CAO Anita J. Kroll sold 29,047 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $39.02, for a total transaction of $1,133,413.94. Following the transaction, the chief accounting officer directly owned 19,892 shares in the company, valued at $776,185.84. The trade was a 59.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Prudence E. Carlson sold 6,320 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $38.05, for a total transaction of $240,476.00. Following the transaction, the director owned 315,457 shares in the company, valued at approximately $12,003,138.85. This represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 276,650 shares of company stock valued at $10,690,789. Insiders own 14.48% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TDS. JPMorgan Chase & Co. lifted their price objective on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the stock 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. 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. Finally, Raymond James Financial lifted their price objective on shares of 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 equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $52.00.

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.