Nuveen LLC Purchases Shares of 1,121,038 Telephone and Data Systems, Inc. $TDS

Key Points

• Nuveen LLC has acquired a new position in Telephone and Data Systems, Inc., purchasing 1,121,038 shares valued at approximately $43 million, representing about 0.98% of the company's stock.
• Shares of Telephone and Data Systems opened at $38.51 but reported a 0.8% decline as of the latest updates, with a market cap of $4.39 billion.
• The company announced a quarterly dividend of $0.04 per share, with an upcoming dividend payout scheduled for September 30th, yielding 0.4% annually.

Nuveen LLC bought a new position in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,121,038 shares of the Wireless communications provider's stock, valued at approximately $43,429,000. Nuveen LLC owned about 0.98% of Telephone and Data Systems at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Atria Wealth Solutions Inc. lifted its position in Telephone and Data Systems by 98.9% in the first quarter. Atria Wealth Solutions Inc. now owns 19,104 shares of the Wireless communications provider's stock valued at $740,000 after purchasing an additional 9,500 shares during the last quarter. New Age Alpha Advisors LLC increased its stake in shares of Telephone and Data Systems by 44.7% during the first quarter. New Age Alpha Advisors LLC now owns 157,749 shares of the Wireless communications provider's stock valued at $6,111,000 after buying an additional 48,756 shares during the period. Natixis Advisors LLC increased its stake in shares of Telephone and Data Systems by 21.1% during the first quarter. Natixis Advisors LLC now owns 41,711 shares of the Wireless communications provider's stock valued at $1,615,000 after buying an additional 7,265 shares during the period. Bayforest Capital Ltd increased its stake in shares of Telephone and Data Systems by 121.8% during the first quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider's stock valued at $52,000 after buying an additional 737 shares during the period. Finally, Vestcor Inc purchased a new position in shares of Telephone and Data Systems during the first quarter valued at approximately $3,874,000. Institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Stock Up 0.6%

Shares of NYSE TDS traded up $0.2150 during trading on Thursday, reaching $39.2850. The company had a trading volume of 774,462 shares, compared to its average volume of 1,561,552. Telephone and Data Systems, Inc. has a 12-month low of $20.71 and a 12-month high of $42.74. The stock has a market cap of $4.48 billion, a PE ratio of -40.50 and a beta of 0.54. The business's 50-day moving average is $37.26 and its 200 day moving average is $36.36. 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 (NYSE:TDS - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). The business 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 company's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.13) earnings per share. As a group, equities analysts forecast 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 issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Telephone and Data Systems's dividend payout ratio is currently -16.49%.

Insider Transactions at Telephone and Data Systems

In other Telephone and Data Systems news, Director Prudence E. Carlson sold 6,320 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $38.05, for a total value of $240,476.00. Following the transaction, the director owned 315,457 shares of the company's stock, valued at approximately $12,003,138.85. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vicki L. Villacrez sold 73,878 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 81,035 shares in the company, valued at $3,150,640.80. This trade represents a 47.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 268,042 shares of company stock worth $10,354,302 in the last ninety days. Insiders own 14.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TDS. Raymond James Financial boosted their target price on Telephone and Data Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. upped their price target on Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, Zacks Research raised Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $52.00.

Telephone and Data Systems Company 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.