Strs Ohio Acquires Shares of 28,800 Telephone and Data Systems, Inc. $TDS

Key Points

• Strs Ohio has purchased a new stake in Telephone and Data Systems, acquiring 28,800 shares valued at approximately $1,116,000 during the first quarter.
• A number of analysts have upgraded Telephone and Data Systems, leading to a consensus rating of "Moderate Buy" with a target price increase to $52.00.
• Recently, the company declared a quarterly dividend of $0.04, with a scheduled payment on September 30th, representing a 0.4% dividend yield.

Strs Ohio purchased a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,800 shares of the Wireless communications provider's stock, valued at approximately $1,116,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC lifted its stake in shares of Telephone and Data Systems by 36.8% in the first quarter. Intech Investment Management LLC now owns 170,550 shares of the Wireless communications provider's stock worth $6,607,000 after acquiring an additional 45,882 shares during the period. Integrity Alliance LLC. acquired a new position in shares of Telephone and Data Systems in the first quarter worth approximately $336,000. Bayforest Capital Ltd lifted its stake in shares of 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 acquiring an additional 737 shares during the period. United Services Automobile Association acquired a new position in Telephone and Data Systems in the first quarter valued at approximately $248,000. Finally, Caxton Associates LLP acquired a new position in Telephone and Data Systems in the first quarter valued at approximately $1,447,000. 80.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TDS has been the topic of several recent analyst reports. Raymond James Financial boosted their price target 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. Zacks Research raised Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. boosted their price target on Telephone and Data Systems from $53.00 to $54.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.00.

Telephone and Data Systems Stock Down 0.5%

Telephone and Data Systems stock traded down $0.18 during trading on Friday, hitting $37.99. 1,999,104 shares of the company were exchanged, compared to its average volume of 1,030,378. The business's 50 day moving average is $38.85 and its 200 day moving average is $36.62. Telephone and Data Systems, Inc. has a 52 week low of $22.51 and a 52 week high of $42.74. The company has a market capitalization of $4.37 billion, a P/E ratio of -39.16 and a beta of 0.48. The company has a current ratio of 1.78, a quick ratio of 1.65 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 the consensus estimate of ($0.01) by ($0.04). Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%.The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company posted ($0.13) EPS. The company's quarterly revenue was down 5.7% compared to the same quarter last year. 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 15th. Telephone and Data Systems's dividend payout ratio is -16.49%.

Insiders Place Their Bets

In other Telephone and Data Systems news, CAO Anita J. Kroll sold 29,047 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $39.02, for a total value of $1,133,413.94. Following the completion of the transaction, the chief accounting officer owned 19,892 shares in the company, valued at $776,185.84. This represents a 59.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph R. Hanley sold 68,759 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.16, for a total value of $2,623,843.44. Following the completion of the transaction, the senior vice president owned 60,473 shares of the company's stock, valued at $2,307,649.68. This trade represents a 53.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,650 shares of company stock worth $10,690,789 over the last 90 days. Company insiders own 14.97% of the company's stock.

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.