Telephone and Data Systems, Inc. $TDS Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its holdings in Telephone and Data Systems, Inc. by 5.6% during the 1st quarter, resulting in ownership of approximately 10.06% valued at $444.27 million.
• The company announced a quarterly dividend of $0.04 per share, representing a 0.4% yield, to be paid on September 30th to investors recorded by September 15th.
• Recent analyst reports have shown mixed evaluations, with Wall Street Zen downgrading the stock to a "sell" rating, while JPMorgan Chase raised its target price from $53 to $54 and maintained an "overweight" rating.

Vanguard Group Inc. lowered its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 5.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,467,997 shares of the Wireless communications provider's stock after selling 681,524 shares during the quarter. Vanguard Group Inc. owned approximately 10.06% of Telephone and Data Systems worth $444,270,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bayforest Capital Ltd lifted its stake in Telephone and Data Systems by 121.8% in the 1st quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider's stock valued at $52,000 after buying an additional 737 shares in the last quarter. Federated Hermes Inc. purchased a new position in shares of Telephone and Data Systems during the 4th quarter worth $56,000. Lazard Asset Management LLC lifted its stake 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 worth $139,000 after purchasing an additional 1,887 shares during the period. Forum Financial Management LP purchased a new position in shares of Telephone and Data Systems during the 1st quarter worth $200,000. Finally, United Capital Financial Advisors LLC purchased a new position in shares of Telephone and Data Systems during the 4th quarter worth $201,000. Hedge funds and other institutional investors own 80.00% of the company's stock.

Insider Buying and Selling

In related news, CFO Vicki L. Villacrez sold 26,334 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $39.02, for a total value of $1,027,552.68. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph R. Hanley sold 68,759 shares of the stock in a transaction 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 completion of the sale, the senior vice president owned 60,473 shares of the company's stock, valued at approximately $2,307,649.68. This represents a 53.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 268,042 shares of company stock valued at $10,354,302 in the last 90 days. 14.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Sunday. JPMorgan Chase & Co. increased their price target on Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. Raymond James Financial increased their price target on Telephone and Data Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Finally, Zacks Research raised Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Telephone and Data Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

Telephone and Data Systems Trading Up 0.0%

Shares of TDS traded up $0.0050 during trading hours on Wednesday, hitting $39.0350. The stock had a trading volume of 169,197 shares, compared to its average volume of 1,060,496. 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 firm has a market cap of $4.45 billion, a P/E ratio of -40.26 and a beta of 0.54. The company's fifty day simple moving average is $37.06 and its 200 day simple moving average is $36.31. Telephone and Data Systems, Inc. has a 12-month low of $20.45 and a 12-month high of $42.74.

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 for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.17 billion. Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%.The company's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the business posted ($0.13) earnings per share. Equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 15th. Telephone and Data Systems's dividend payout ratio is currently -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.