Joseph R. Hanley Sells 68,759 Shares of Telephone and Data Systems (NYSE:TDS) Stock

Key Points

• SVP Joseph R. Hanley sold 68,759 shares of Telephone and Data Systems at an average price of $38.16, totaling approximately $2.62 million, resulting in a 53.21% decrease in his ownership.
• The company reported a loss of ($0.05) EPS for the latest quarter, missing estimates and demonstrating a 5.7% year-over-year revenue decline.
• Telephone and Data Systems will pay a quarterly dividend of $0.04 on September 30th, reflecting an annualized yield of 0.4% amid a negative payout ratio of -16.49%.

Telephone and Data Systems, Inc. (NYSE:TDS - Get Free Report) SVP Joseph R. Hanley sold 68,759 shares of the business's 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 $2,307,649.68. This trade represents a 53.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Telephone and Data Systems Stock Performance

TDS traded down $0.3780 during trading on Friday, hitting $38.9420. The stock had a trading volume of 1,187,530 shares, compared to its average volume of 1,512,627. The company has a 50 day moving average price of $37.38 and a 200-day moving average price of $36.38. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of -40.15 and a beta of 0.54. Telephone and Data Systems, Inc. has a one year low of $21.08 and a one year high of $42.74. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.78 and a quick ratio of 1.65.

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 the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. The business's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.13) earnings per share. As a group, research analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. Telephone and Data Systems's dividend payout ratio is presently -16.49%.

Institutional Trading of Telephone and Data Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Assetmark Inc. lifted its position 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 worth $46,000 after buying an additional 450 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of 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 worth $47,000 after buying an additional 861 shares during the last quarter. Bayforest Capital Ltd lifted its position in shares of 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 worth $52,000 after buying an additional 737 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Telephone and Data Systems during the 4th quarter worth $56,000. Finally, Lazard Asset Management LLC lifted its position 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 buying an additional 1,887 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TDS has been the subject of a number of recent analyst reports. Raymond James Financial upped their target price on Telephone and Data Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. upped their target price 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. Zacks Research upgraded Telephone and Data Systems from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $52.00.

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.