Victory Capital Management Inc. Boosts Stock Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Victory Capital Management Inc. grew its holdings in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 150.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,154 shares of the Wireless communications provider's stock after purchasing an additional 54,143 shares during the period. Victory Capital Management Inc. owned approximately 0.08% of Telephone and Data Systems worth $3,493,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TDS. KLP Kapitalforvaltning AS bought a new stake in Telephone and Data Systems during the 4th quarter valued at $703,000. LPL Financial LLC purchased a new position in shares of Telephone and Data Systems in the fourth quarter valued at $2,371,000. JPMorgan Chase & Co. raised its stake in shares of Telephone and Data Systems by 42.3% during the 4th quarter. JPMorgan Chase & Co. now owns 652,603 shares of the Wireless communications provider's stock valued at $22,260,000 after purchasing an additional 194,136 shares during the period. Norges Bank purchased a new stake in Telephone and Data Systems during the 4th quarter worth about $23,776,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Telephone and Data Systems during the 4th quarter worth about $242,000. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Telephone and Data Systems Trading Up 0.4%

Shares of TDS stock opened at $40.05 on Monday. The company has a market capitalization of $4.57 billion, a PE ratio of -38.15 and a beta of 0.51. Telephone and Data Systems, Inc. has a 52-week low of $17.90 and a 52-week high of $42.74. The business's fifty day moving average is $35.67 and its 200 day moving average is $35.94. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.55 and a current ratio of 1.74.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.07). Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 1.03%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. Telephone and Data Systems's revenue was down 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, June 16th. Telephone and Data Systems's dividend payout ratio is currently -15.24%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $49.00 target price (up previously from $47.00) on shares of Telephone and Data Systems in a report on Friday. Wall Street Zen upgraded shares of Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Telephone and Data Systems from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, May 28th.

Telephone and Data Systems Company 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.

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