Principal Financial Group Inc. Acquires 12,702 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Principal Financial Group Inc. raised its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 485,690 shares of the Wireless communications provider's stock after purchasing an additional 12,702 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of Telephone and Data Systems worth $18,816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. lifted its holdings in Telephone and Data Systems by 4.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,319 shares of the Wireless communications provider's stock worth $352,000 after purchasing an additional 482 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Telephone and Data Systems by 8.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,544 shares of the Wireless communications provider's stock worth $254,000 after buying an additional 485 shares during the period. GAMMA Investing LLC increased its position in Telephone and Data Systems by 8.7% during the 1st quarter. GAMMA Investing LLC now owns 6,243 shares of the Wireless communications provider's stock worth $242,000 after buying an additional 501 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Telephone and Data Systems by 1.6% during the fourth quarter. Voya Investment Management LLC now owns 52,577 shares of the Wireless communications provider's stock worth $1,793,000 after buying an additional 808 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Telephone and Data Systems by 14.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,908 shares of the Wireless communications provider's stock valued at $268,000 after acquiring an additional 892 shares during the period. 80.00% of the stock is owned by institutional investors.

Telephone and Data Systems Price Performance

Telephone and Data Systems stock traded up $0.27 during mid-day trading on Monday, reaching $39.72. The company had a trading volume of 1,286,942 shares, compared to its average volume of 988,962. The business has a fifty day simple moving average of $34.87 and a 200 day simple moving average of $35.63. The company has a market cap of $4.53 billion, a P/E ratio of -37.83 and a beta of 0.51. Telephone and Data Systems, Inc. has a fifty-two week low of $17.90 and a fifty-two week high of $41.21. The company has a current ratio of 1.74, a quick ratio of 1.55 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 billion. Telephone and Data Systems had a negative net margin of 1.03% and a positive return on equity of 0.73%. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. On average, equities research analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, June 16th. Telephone and Data Systems's dividend payout ratio is presently -15.24%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TDS shares. JPMorgan Chase & Co. reduced their price target on Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 28th. Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Raymond James Financial restated an "outperform" rating and issued a $47.00 price target (down previously from $51.00) on shares of Telephone and Data Systems in a research report on Monday, May 5th.

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.