Ameriprise Financial Inc. Grows Position in Telephone and Data Systems, Inc. $TDS

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. grew its holdings in Telephone and Data Systems by 21.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,500 shares of the Wireless communications provider's stock valued at $329,000 after purchasing an additional 1,500 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Telephone and Data Systems by 8.0% in the first quarter. Sequoia Financial Advisors LLC now owns 6,544 shares of the Wireless communications provider's stock valued at $254,000 after purchasing an additional 485 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Telephone and Data Systems in the first quarter valued at $215,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Telephone and Data Systems in the fourth quarter valued at $237,000. Finally, GAMMA Investing LLC grew its holdings in Telephone and Data Systems by 8.7% in the first quarter. GAMMA Investing LLC now owns 6,243 shares of the Wireless communications provider's stock valued at $242,000 after purchasing an additional 501 shares during the last quarter. Institutional investors and hedge funds own 80.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Raymond James Financial upped their target price on Telephone and Data Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. upped their price objective on Telephone and Data Systems from $53.00 to $54.00 and gave the company an "overweight" rating in a research report on Tuesday, August 12th. Zacks Research upgraded Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.00.

Telephone and Data Systems Trading Down 1.6%

NYSE TDS traded down $0.63 during trading hours on Tuesday, hitting $39.46. 915,004 shares of the company's stock were exchanged, compared to its average volume of 1,347,166. The business's 50 day moving average is $38.19 and its 200-day moving average is $36.47. Telephone and Data Systems, Inc. has a 12-month low of $21.81 and a 12-month high of $42.74. The firm has a market capitalization of $4.54 billion, a P/E ratio of -40.68 and a beta of 0.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.65 and a current ratio of 1.78.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share 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 business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter last year, the company posted ($0.13) earnings per share. The business's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, 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 firm also recently announced 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 -16.49%.

Insider Transactions at Telephone and Data Systems

In other news, Director Prudence E. Carlson sold 6,320 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $38.05, for a total value of $240,476.00. Following the transaction, the director directly owned 315,457 shares in the company, valued at $12,003,138.85. This trade represents a 1.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Anita J. Kroll sold 29,047 shares of the firm's stock in a transaction dated 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 approximately $776,185.84. This trade represents a 59.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,650 shares of company stock valued at $10,690,789. 14.48% of the stock is owned by company insiders.

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.