Telephone and Data Systems, Inc. (NYSE:TDS) Director Sells $240,476.00 in Stock

Key Points

• Director Prudence E. Carlson sold 6,320 shares of Telephone and Data Systems, Inc. at an average price of $38.05, totaling $240,476, reducing her stake by 1.96% to 315,457 shares.
• The company reported a quarterly loss of ($0.05) EPS, missing analysts' estimates, while revenue was $1.19 billion, slightly exceeding expectations but down 5.7% year-over-year.
• Telephone and Data Systems announced a quarterly dividend of $0.04 per share to be paid on September 30th, reflecting an annualized yield of 0.4%.

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) Director Prudence E. Carlson sold 6,320 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $38.05, for a total value of $240,476.00. Following the sale, the director owned 315,457 shares in the company, valued at $12,003,138.85. The trade was a 1.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Telephone and Data Systems Trading Down 1.1%

Shares of NYSE:TDS traded down $0.42 on Tuesday, hitting $38.69. The company had a trading volume of 123,869 shares, compared to its average volume of 1,059,932. The firm's 50-day simple moving average is $36.99 and its two-hundred day simple moving average is $36.29. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -39.82 and a beta of 0.54. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a 1 year low of $20.45 and a 1 year high of $42.74.

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). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate 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%. Telephone and Data Systems's quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.13) earnings per share. Equities analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 annualized dividend and a dividend yield of 0.4%. Telephone and Data Systems's payout ratio is currently -16.49%.

Institutional Investors Weigh In On Telephone and Data Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in shares of Telephone and Data Systems by 53.1% during the 2nd quarter. Assetmark Inc. now owns 1,297 shares of the Wireless communications provider's stock valued at $46,000 after buying an additional 450 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Telephone and Data Systems by 191.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the Wireless communications provider's stock valued at $47,000 after acquiring an additional 861 shares during the period. Bayforest Capital Ltd lifted its position in Telephone and Data Systems by 121.8% during the 1st quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider's stock valued at $52,000 after acquiring an additional 737 shares during the period. Federated Hermes Inc. bought a new stake in Telephone and Data Systems during the fourth quarter worth about $56,000. Finally, Lazard Asset Management LLC grew its holdings in Telephone and Data Systems by 85.6% in the fourth 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. 80.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TDS shares. Raymond James Financial raised their price target on shares of Telephone and Data Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Zacks Research upgraded Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. 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 research report on Tuesday, August 12th. Finally, Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Sunday.

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.