Telephone and Data Systems, Inc. $TDS Shares Acquired by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in Telephone and Data Systems, Inc. by 4.1% during the first quarter, owning approximately 1.15% of the company valued at $50.7 million.
• Telephone and Data Systems reported a loss per share of ($0.05) for the latest quarter, which missed analysts' expectations, although revenue of $1.19 billion exceeded estimates.
• The company announced a quarterly dividend of $0.04 per share, representing a 0.4% yield, with the dividend payout ratio at -16.49%.

Ameriprise Financial Inc. raised its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,309,590 shares of the Wireless communications provider's stock after buying an additional 51,928 shares during the period. Ameriprise Financial Inc. owned about 1.15% of Telephone and Data Systems worth $50,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Bayforest Capital Ltd raised its holdings in shares of Telephone and Data Systems by 121.8% in the 1st quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider's stock valued at $52,000 after purchasing an additional 737 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Telephone and Data Systems by 85.6% in the 4th quarter. Lazard Asset Management LLC now owns 4,092 shares of the Wireless communications provider's stock valued at $139,000 after purchasing an additional 1,887 shares in the last quarter. Forum Financial Management LP bought a new stake in shares of Telephone and Data Systems in the 1st quarter valued at about $200,000. Greenleaf Trust bought a new stake in shares of Telephone and Data Systems in the 1st quarter valued at about $202,000. Finally, Highland Capital Management LLC bought a new stake in shares of Telephone and Data Systems in the 1st quarter valued at about $205,000. 80.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Anita J. Kroll sold 8,608 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $39.09, for a total transaction of $336,486.72. Following the completion of the sale, the chief accounting officer directly owned 17,087 shares in the company, valued at approximately $667,930.83. This trade represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Joseph R. Hanley sold 68,759 shares of Telephone and Data Systems 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 sale, the senior vice president owned 60,473 shares of the company's stock, valued at approximately $2,307,649.68. This represents a 53.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,650 shares of company stock valued at $10,690,789 in the last ninety days. 14.48% of the stock is currently owned by company insiders.

Telephone and Data Systems Stock Performance

Shares of NYSE:TDS traded down $0.17 during midday trading on Monday, reaching $40.10. The company's stock had a trading volume of 1,382,234 shares, compared to its average volume of 1,412,622. The firm has a market capitalization of $4.61 billion, a PE ratio of -41.34 and a beta of 0.48. Telephone and Data Systems, Inc. has a twelve month low of $21.81 and a twelve month high of $42.74. The stock has a fifty day moving average of $37.99 and a 200 day moving average of $36.45. 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 firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the company posted ($0.13) earnings per share. On average, equities analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research upgraded shares of 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 objective on shares of 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 upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Finally, Raymond James Financial boosted their price objective on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research note 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's stock. According to data from MarketBeat, Telephone and Data Systems has a consensus 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.