28,800 Shares in Telephone and Data Systems, Inc. $TDS Purchased by Strs Ohio

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

A number of other large investors have also bought and sold shares of the stock. Third Point LLC boosted its position in shares of Telephone and Data Systems by 12.7% during the 1st quarter. Third Point LLC now owns 6,760,000 shares of the Wireless communications provider's stock worth $261,882,000 after purchasing an additional 760,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Telephone and Data Systems by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 6,354,795 shares of the Wireless communications provider's stock worth $246,181,000 after acquiring an additional 107,501 shares in the last quarter. American Century Companies Inc. grew its stake in Telephone and Data Systems by 7.5% in the first quarter. American Century Companies Inc. now owns 3,470,363 shares of the Wireless communications provider's stock valued at $134,442,000 after acquiring an additional 240,795 shares during the period. Carronade Capital Management LP grew its stake in Telephone and Data Systems by 48.2% in the first quarter. Carronade Capital Management LP now owns 2,730,517 shares of the Wireless communications provider's stock valued at $105,780,000 after acquiring an additional 888,108 shares during the period. Finally, Silver Point Capital L.P. increased its holdings in shares of Telephone and Data Systems by 19.8% during the first quarter. Silver Point Capital L.P. now owns 2,205,000 shares of the Wireless communications provider's stock valued at $85,422,000 after acquiring an additional 365,000 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Telephone and Data Systems

In other Telephone and Data Systems news, CAO Anita J. Kroll sold 8,608 shares of Telephone and Data Systems stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $39.09, for a total value of $336,486.72. Following the sale, the chief accounting officer owned 17,087 shares of the company's stock, valued at approximately $667,930.83. The trade was a 33.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joseph R. Hanley sold 68,759 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $38.16, for a total transaction of $2,623,843.44. Following the completion of the transaction, the senior vice president owned 60,473 shares in the company, valued at approximately $2,307,649.68. The trade was a 53.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,650 shares of company stock worth $10,690,789. 14.48% of the stock is currently owned by corporate insiders.

Telephone and Data Systems Stock Performance

Shares of TDS stock traded down $0.39 during trading on Monday, hitting $37.59. The company's stock had a trading volume of 1,092,685 shares, compared to its average volume of 1,070,957. The company has a current ratio of 1.78, a quick ratio of 1.65 and a debt-to-equity ratio of 0.85. The company has a market cap of $4.32 billion, a PE ratio of -38.75 and a beta of 0.48. The business has a fifty day moving average of $38.81 and a 200-day moving average of $36.66. Telephone and Data Systems, Inc. has a 52 week low of $22.51 and a 52 week high of $42.74.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) 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 positive return on equity of 0.92% and a negative net margin of 0.85%.The business's revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.13) earnings per share. As a group, research analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, September 15th. This represents a $0.16 annualized dividend and a yield of 0.4%. Telephone and Data Systems's dividend payout ratio is presently -16.49%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TDS shares. Raymond James Financial increased their target price on Telephone and Data Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Zacks Research raised shares of Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Telephone and Data Systems 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.