Algert Global LLC Has $5.10 Million Stock Holdings in Telephone and Data Systems, Inc. $TDS

Key Points

• Algert Global LLC has significantly reduced its stake in Telephone and Data Systems, Inc. by 53.8% during the first quarter, owning approximately 0.12% of the company post-sale.
• The company declared a quarterly dividend of $0.04 per share scheduled for payment on September 30, with a yield of 0.4%.
• Wall Street analysts are showing optimism towards TDS, with recent upgrades including a price target increase from JPMorgan Chase & Co. to $54.00 and a rating change from "sell" to "hold" by Wall Street Zen.

Algert Global LLC cut its position in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 53.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 131,573 shares of the Wireless communications provider's stock after selling 153,283 shares during the quarter. Algert Global LLC owned about 0.12% of Telephone and Data Systems worth $5,097,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised 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. Sequoia Financial Advisors LLC increased its position in shares of 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 worth $254,000 after acquiring an additional 485 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Telephone and Data Systems in the first quarter worth approximately $215,000. Wealth Enhancement Advisory Services LLC purchased a new position in Telephone and Data Systems during the fourth quarter valued at approximately $237,000. Finally, GAMMA Investing LLC grew its position in Telephone and Data Systems by 8.7% during 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 in the last quarter. 80.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Telephone and Data Systems Price Performance

Shares of Telephone and Data Systems stock traded down $0.3780 during mid-day trading on Friday, reaching $38.9420. 1,187,530 shares of the stock were exchanged, compared to its average volume of 1,512,627. Telephone and Data Systems, Inc. has a fifty-two week low of $21.08 and a fifty-two week high of $42.74. The firm has a 50-day simple moving average of $37.38 and a 200 day simple moving average of $36.38. The company has a current ratio of 1.78, a quick ratio of 1.65 and a debt-to-equity ratio of 0.85. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -40.15 and a beta of 0.54.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. The firm's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the business posted ($0.13) EPS. On average, sell-side analysts predict 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. Stockholders of record on Monday, September 15th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Telephone and Data Systems's dividend payout ratio (DPR) is -16.49%.

Insider Buying and Selling at Telephone and Data Systems

In related news, SVP Joseph R. Hanley sold 68,759 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.16, for a total value of $2,623,843.44. Following the sale, the senior vice president directly owned 60,473 shares in the company, valued at $2,307,649.68. This trade represents a 53.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Prudence E. Carlson sold 6,320 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $38.05, for a total transaction of $240,476.00. Following the completion of the sale, the director owned 315,457 shares in the company, valued at $12,003,138.85. This represents a 1.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,650 shares of company stock worth $10,690,789 over the last quarter. Company insiders own 14.97% of the company's stock.

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.