Voya Investment Management LLC Raises Position in Telephone and Data Systems, Inc. $TDS

Key Points

• Voya Investment Management LLC increased its stake in Telephone and Data Systems by 28.9%, owning approximately 0.06% of the company valued at $2.63 million.
• Several institutional investors have also increased their holdings, with Carronade Capital Management LP raising its stake by 48.2% during the same period, reflecting a growing interest in the company.
• Analyst upgrades for Telephone and Data Systems include a price target increase from $49.00 to $50.00 by Raymond James, with a current consensus rating of "Moderate Buy" and a target price of $52.00.

Voya Investment Management LLC lifted its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 28.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,796 shares of the Wireless communications provider's stock after purchasing an additional 15,219 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Telephone and Data Systems worth $2,626,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC boosted its holdings in 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 valued at $139,000 after acquiring an additional 1,887 shares during the period. Quantinno Capital Management LP purchased a new position in Telephone and Data Systems during the 4th quarter valued at $261,000. State of Wyoming boosted its holdings in Telephone and Data Systems by 175.3% during the 4th quarter. State of Wyoming now owns 6,253 shares of the Wireless communications provider's stock valued at $213,000 after acquiring an additional 3,982 shares during the period. Two Sigma Advisers LP boosted its holdings in Telephone and Data Systems by 1.5% during the 4th quarter. Two Sigma Advisers LP now owns 93,300 shares of the Wireless communications provider's stock valued at $3,182,000 after acquiring an additional 1,400 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in Telephone and Data Systems by 400.4% during the 4th quarter. Squarepoint Ops LLC now owns 144,511 shares of the Wireless communications provider's stock valued at $4,929,000 after acquiring an additional 192,611 shares during the period. Hedge funds and other institutional investors own 80.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TDS. Zacks Research raised Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. boosted their price target on Telephone and Data Systems from $53.00 to $54.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Raymond James Financial boosted their price target 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. Finally, Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.00.

Telephone and Data Systems Trading Up 0.1%

Shares of NYSE TDS traded up $0.05 during trading on Tuesday, reaching $37.59. The stock had a trading volume of 358,488 shares, compared to its average volume of 1,069,290. Telephone and Data Systems, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $42.74. 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 business's 50-day moving average price is $38.81 and its 200-day moving average price is $36.66. The company has a market cap of $4.32 billion, a P/E ratio of -38.76 and a beta of 0.48.

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) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the previous year, the firm posted ($0.13) earnings per share. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. On average, equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.16 annualized dividend and a yield of 0.4%. Telephone and Data Systems's dividend payout ratio is currently -16.49%.

Insider Buying and Selling

In related news, SVP Joseph R. Hanley sold 68,759 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $38.16, for a total value of $2,623,843.44. Following the completion of the transaction, the senior vice president directly owned 60,473 shares of the company's stock, valued at $2,307,649.68. This trade represents a 53.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Prudence E. Carlson sold 4,452 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $38.50, for a total value of $171,402.00. Following the sale, the director owned 311,005 shares in the company, valued at approximately $11,973,692.50. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,650 shares of company stock valued at $10,690,789 in the last quarter. 14.48% of the stock is currently owned by insiders.

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.