Millennium Management LLC Buys 130,282 Shares of Telephone and Data Systems, Inc. $TDS

Key Points

• Millennium Management LLC increased its holdings in Telephone and Data Systems, Inc. by 19.4% in the first quarter, acquiring an additional 130,282 shares to reach a total ownership of about 0.70% of the company valued at $31.06 million.
• Several institutional investors have also raised their stakes in Telephone and Data Systems, with Bayforest Capital Ltd increasing its stake by 121.8% during the same period.
• The company has recently announced a quarterly dividend of $0.04 per share, to be paid on September 30th, representing an annual yield of 0.4%.

Millennium Management LLC boosted its position in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 19.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 801,784 shares of the Wireless communications provider's stock after purchasing an additional 130,282 shares during the period. Millennium Management LLC owned approximately 0.70% of Telephone and Data Systems worth $31,061,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bayforest Capital Ltd lifted its position in 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 purchasing an additional 737 shares during the period. Lazard Asset Management LLC lifted its position in shares of Telephone and Data Systems by 85.6% during the 4th quarter. Lazard Asset Management LLC now owns 4,092 shares of the Wireless communications provider's stock valued at $139,000 after acquiring an additional 1,887 shares during the last quarter. Forum Financial Management LP acquired a new stake in shares of Telephone and Data Systems during the 1st quarter valued at $200,000. Greenleaf Trust acquired a new stake in shares of Telephone and Data Systems during the 1st quarter valued at $202,000. Finally, Highland Capital Management LLC acquired a new stake in shares of Telephone and Data Systems during the 1st quarter valued at $205,000. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Telephone and Data Systems Stock Down 0.3%

Shares of NYSE TDS traded down $0.13 during mid-day trading on Friday, reaching $39.25. The company had a trading volume of 682,394 shares, compared to its average volume of 1,051,758. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.65 and a current ratio of 1.78. The stock has a market capitalization of $4.51 billion, a PE ratio of -40.46 and a beta of 0.48. Telephone and Data Systems, Inc. has a twelve month low of $22.51 and a twelve month high of $42.74. The stock's 50 day moving average is $38.81 and its 200-day moving average is $36.53.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company earned ($0.13) earnings per share. The company's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.04 per share. 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%.

Insider Activity

In related news, CAO Anita J. Kroll sold 8,608 shares of the 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 completion of the sale, the chief accounting officer 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vicki L. Villacrez sold 26,334 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $39.02, for a total transaction of $1,027,552.68. Following the completion of the sale, the chief financial officer owned 454 shares of the company's stock, valued at approximately $17,715.08. The trade was a 98.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,650 shares of company stock valued at $10,690,789 over the last three months. 14.97% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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