Amundi Trims Stock Position in Telephone and Data Systems, Inc. $TDS

Key Points

• Amundi reduced its stake in Telephone and Data Systems, Inc. by 14.7%, owning 51,973 shares after selling 8,947 shares, for a total value of approximately $1.97 million.
• CFO Vicki L. Villacrez sold 73,878 shares for over $2.87 million, representing a significant 47.69% decrease in her position.
• Analysts have upgraded the stock to a "hold" rating, with a consensus target price of $52.00 following a less-than-expected quarterly earnings report.

Amundi trimmed its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,973 shares of the Wireless communications provider's stock after selling 8,947 shares during the quarter. Amundi's holdings in Telephone and Data Systems were worth $1,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Xponance Inc. raised its stake in Telephone and Data Systems by 4.5% during the first quarter. Xponance Inc. now owns 7,485 shares of the Wireless communications provider's stock valued at $290,000 after buying an additional 324 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Telephone and Data Systems by 8.0% during the first quarter. Sequoia Financial Advisors LLC now owns 6,544 shares of the Wireless communications provider's stock valued at $254,000 after buying an additional 485 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of 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 worth $242,000 after purchasing an additional 501 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Telephone and Data Systems by 5.8% in the first quarter. OneDigital Investment Advisors LLC now owns 9,648 shares of the Wireless communications provider's stock worth $374,000 after purchasing an additional 531 shares during the last quarter. Finally, Landscape Capital Management L.L.C. grew its holdings in shares of Telephone and Data Systems by 5.5% in the first quarter. Landscape Capital Management L.L.C. now owns 11,596 shares of the Wireless communications provider's stock worth $449,000 after acquiring an additional 606 shares during the period. 80.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TDS has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Zacks Research raised Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. Finally, Raymond James Financial boosted their price target 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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

Insider Buying and Selling

In other news, CAO Anita J. Kroll sold 8,608 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $39.09, for a total transaction of $336,486.72. Following the transaction, the chief accounting officer owned 17,087 shares of the company's stock, valued at approximately $667,930.83. This represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vicki L. Villacrez sold 26,334 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $39.02, for a total value of $1,027,552.68. Following the transaction, the chief financial officer directly owned 454 shares in the company, valued at approximately $17,715.08. This represents a 98.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 276,650 shares of company stock valued at $10,690,789. 14.97% of the stock is currently owned by company insiders.

Telephone and Data Systems Price Performance

Shares of NYSE:TDS traded down $0.17 during mid-day trading on Thursday, reaching $38.17. The stock had a trading volume of 1,131,937 shares, compared to its average volume of 1,012,504. 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 $4.39 billion, a P/E ratio of -39.35 and a beta of 0.48. Telephone and Data Systems, Inc. has a 1 year low of $22.51 and a 1 year high of $42.74. The business's 50 day moving average price is $38.88 and its 200 day moving average price is $36.60.

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 analysts' consensus estimates 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 firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. Telephone and Data Systems's quarterly revenue was down 5.7% on a year-over-year basis. Research analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 0.4%. Telephone and Data Systems's dividend payout ratio is -16.49%.

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.