Teacher Retirement System of Texas Sells 23,253 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Teacher Retirement System of Texas decreased its holdings in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 47.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,560 shares of the Wireless communications provider's stock after selling 23,253 shares during the quarter. Teacher Retirement System of Texas' holdings in Telephone and Data Systems were worth $990,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Telephone and Data Systems by 21.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,500 shares of the Wireless communications provider's stock worth $329,000 after buying an additional 1,500 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of Telephone and Data Systems during the 1st quarter worth approximately $205,000. Sequoia Financial Advisors LLC lifted its position in shares of 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 in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Telephone and Data Systems during the 1st quarter worth approximately $215,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Telephone and Data Systems by 14.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,908 shares of the Wireless communications provider's stock worth $268,000 after buying an additional 892 shares in the last quarter. Institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Stock Performance

Shares of NYSE:TDS traded down $0.54 during mid-day trading on Thursday, reaching $37.69. The company had a trading volume of 1,404,776 shares, compared to its average volume of 992,629. The company has a current ratio of 1.74, a quick ratio of 1.55 and a debt-to-equity ratio of 0.85. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -35.89 and a beta of 0.51. The company's 50-day moving average price is $35.11 and its 200-day moving average price is $35.70. Telephone and Data Systems, Inc. has a one year low of $17.90 and a one year high of $41.21.

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

Telephone and Data Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.04 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.42%. Telephone and Data Systems's dividend payout ratio (DPR) is presently -15.24%.

Wall Street Analyst Weigh In

Several research firms have commented on TDS. Raymond James Financial reissued an "outperform" rating and set a $47.00 target price (down previously from $51.00) on shares of Telephone and Data Systems in a research report on Monday, May 5th. Wall Street Zen raised shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of 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.

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.