Telephone and Data Systems, Inc. (NYSE:TDS) Director Prudence E. Carlson Sells 4,452 Shares

Key Points

• Prudence E. Carlson, a director at Telephone and Data Systems, Inc. (NYSE:TDS), sold 4,452 shares at an average price of $38.50, resulting in a total transaction of $171,402. This sale decreased her ownership stake by 1.41%.
• For the most recent quarter, Telephone and Data Systems reported a loss of ($0.05) earnings per share, missing expectations, while revenues reached $1.19 billion, slightly above consensus estimates.
• The company has announced a quarterly dividend of $0.04 to be paid on September 30th, yielding 0.4% annually with a negative dividend payout ratio of -16.49%.

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) Director Prudence E. Carlson sold 4,452 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $38.50, for a total transaction of $171,402.00. Following the transaction, the director directly owned 311,005 shares in the company, valued at $11,973,692.50. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Telephone and Data Systems Price Performance

NYSE TDS traded up $0.66 on Monday, hitting $39.16. 950,198 shares of the company's stock were exchanged, compared to its average volume of 1,066,171. Telephone and Data Systems, Inc. has a 52 week low of $20.38 and a 52 week high of $42.74. The stock has a 50-day moving average of $36.92 and a 200-day moving average of $36.27. 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 $4.46 billion, a price-to-earnings ratio of -40.37 and a beta of 0.54.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.19 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.13) earnings per share. Analysts expect that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.04 dividend. 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 presently -16.49%.

Institutional Trading of Telephone and Data Systems

Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its stake in shares of Telephone and Data Systems by 53.1% in the 2nd quarter. Assetmark Inc. now owns 1,297 shares of the Wireless communications provider's stock valued at $46,000 after acquiring an additional 450 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Telephone and Data Systems by 191.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the Wireless communications provider's stock valued at $47,000 after purchasing an additional 861 shares during the last quarter. Bayforest Capital Ltd grew its holdings in shares of Telephone and Data Systems by 121.8% during the first quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider's stock worth $52,000 after purchasing an additional 737 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Telephone and Data Systems during the fourth quarter worth about $56,000. Finally, Lazard Asset Management LLC increased its stake in shares of 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 valued at $139,000 after buying an additional 1,887 shares during the period. Institutional investors and hedge funds own 80.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on TDS shares. JPMorgan Chase & Co. raised their price objective 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. Wall Street Zen raised Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, Raymond James Financial increased their price objective on shares of 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.

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.

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