Amundi Sells 8,947 Shares of 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 cut its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 14.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 SEC filing.

Several other institutional investors also recently made changes to their positions in TDS. Nuveen LLC acquired a new position in shares of Telephone and Data Systems during the first quarter worth approximately $43,429,000. Carronade Capital Management LP boosted its position in shares of Telephone and Data Systems by 48.2% during the first quarter. Carronade Capital Management LP now owns 2,730,517 shares of the Wireless communications provider's stock worth $105,780,000 after buying an additional 888,108 shares during the period. Silver Point Capital L.P. boosted its position in shares of Telephone and Data Systems by 47.2% during the fourth quarter. Silver Point Capital L.P. now owns 1,840,000 shares of the Wireless communications provider's stock worth $62,762,000 after buying an additional 590,000 shares during the period. 140 Summer Partners LP acquired a new position in shares of Telephone and Data Systems during the first quarter worth approximately $21,216,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Telephone and Data Systems by 189.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 730,730 shares of the Wireless communications provider's stock worth $24,925,000 after buying an additional 477,945 shares during the period. 80.00% of the stock is owned by institutional investors.

Telephone and Data Systems Stock Down 1.3%

Telephone and Data Systems stock traded down $0.50 during mid-day trading on Monday, hitting $38.72. 715,734 shares of the company's stock were exchanged, compared to its average volume of 1,013,416. 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 stock has a market cap of $4.45 billion, a P/E ratio of -39.92 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 stock has a 50 day moving average of $38.88 and a two-hundred day moving average of $36.55.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The Wireless communications provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned ($0.13) earnings per share. The firm's revenue was down 5.7% on a year-over-year basis. 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 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 other Telephone and Data Systems news, CFO Vicki L. Villacrez sold 26,334 shares of the company's 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 directly owned 454 shares in the company, valued at $17,715.08. This represents a 98.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Anita J. Kroll sold 8,608 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $39.09, for a total transaction of $336,486.72. Following the sale, the chief accounting officer owned 17,087 shares of the company's stock, valued at $667,930.83. This trade represents a 33.50% decrease in their ownership of the stock. 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. 14.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TDS shares. Raymond James Financial upped their target price on Telephone and Data Systems from $49.00 to $50.00 and gave the stock an "outperform" 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. Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, JPMorgan Chase & Co. upped their price target 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. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

About Telephone and Data Systems

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.