Telephone and Data Systems, Inc. $TDS Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems increased its Telephone and Data Systems stake by 58.4% in the third quarter, acquiring 33,100 additional shares and bringing its holdings to 89,800 shares valued at approximately $3.05 million.
• Institutional investors and hedge funds own approximately 80% of TDS’s outstanding shares. The stock opened at $36.11, compared with a 52-week range of $30.71 to $49.12.
• TDS reported quarterly EPS of $2.24, far exceeding the $0.09 consensus estimate, while revenue rose 3.6% year over year to $309.28 million. Analysts maintain a consensus “Hold” rating with an average price target of $47.50, and the company pays a $0.04 quarterly dividend.

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 58.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,800 shares of the Wireless communications provider's stock after buying an additional 33,100 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.08% of Telephone and Data Systems worth $3,046,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Telephone and Data Systems by 29.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,085 shares of the Wireless communications provider's stock valued at $46,000 after acquiring an additional 245 shares during the period. TD Waterhouse Canada Inc. raised its stake in Telephone and Data Systems by 446.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,340 shares of the Wireless communications provider's stock valued at $50,000 after acquiring an additional 1,095 shares during the last quarter. Nykredit A S acquired a new stake in Telephone and Data Systems during the 2nd quarter worth approximately $59,000. Versant Capital Management Inc lifted its position in Telephone and Data Systems by 16.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,730 shares of the Wireless communications provider's stock worth $101,000 after acquiring an additional 383 shares during the period. Finally, Parallel Advisors LLC lifted its position in Telephone and Data Systems by 17.1% during the 1st quarter. Parallel Advisors LLC now owns 3,307 shares of the Wireless communications provider's stock worth $139,000 after acquiring an additional 484 shares during the period. Institutional investors and hedge funds own 80.00% of the company's stock.

Telephone and Data Systems Price Performance

Shares of NYSE TDS opened at $36.11 on Tuesday. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 12.04 and a beta of 0.32. Telephone and Data Systems, Inc. has a 52 week low of $30.71 and a 52 week high of $49.12. The company's 50-day moving average price is $35.25 and its 200 day moving average price is $39.55. The company has a current ratio of 3.82, a quick ratio of 3.81 and a debt-to-equity ratio of 0.15.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The Wireless communications provider reported $2.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $2.15. Telephone and Data Systems had a net margin of 33.20% and a return on equity of 11.97%. The business had revenue of $309.28 million during the quarter, compared to analysts' expectations of $315.78 million. During the same period last year, the company posted ($0.05) EPS. The company's revenue was up 3.6% on a year-over-year basis. As a group, research analysts forecast that Telephone and Data Systems, Inc. will post -0.24 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Telephone and Data Systems's dividend payout ratio is currently 5.33%.

Analyst Ratings Changes

Several equities analysts have issued reports on TDS shares. Zacks Research cut shares of Telephone and Data Systems from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 9th. Weiss Ratings cut shares of Telephone and Data Systems from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Citigroup reduced their target price on shares of Telephone and Data Systems from $50.00 to $47.00 and set a "buy" rating for the company in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Telephone and Data Systems from $51.00 to $48.00 and set an "overweight" rating on the stock in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Telephone and Data Systems currently has an average rating of "Hold" and a consensus price target of $47.50.

About Telephone and Data Systems

Telephone and Data Systems, Inc NYSE: TDS is a telecommunications holding company that provides broadband and communications services in communities across the United States. Its principal operating business is TDS Telecom, which serves residential, business and wholesale customers with internet access, fiber-optic and other broadband connections, voice services, video entertainment and related communications solutions.

TDS Telecom focuses on expanding high-speed broadband availability in rural and suburban markets.

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