Vestcor Inc Makes New Investment in Telephone and Data Systems, Inc. (NYSE:TDS)

Vestcor Inc acquired a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 100,000 shares of the Wireless communications provider’s stock, valued at approximately $3,874,000.

Several other institutional investors and hedge funds have also made changes to their positions in TDS. Sumitomo Mitsui Trust Group Inc. grew its holdings in Telephone and Data Systems by 21.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,500 shares of the Wireless communications provider’s stock valued at $329,000 after purchasing an additional 1,500 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Telephone and Data Systems by 8.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,544 shares of the Wireless communications provider’s stock worth $254,000 after acquiring an additional 485 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Telephone and Data Systems during the 1st quarter worth $215,000. Wealth Enhancement Advisory Services LLC acquired a new position in Telephone and Data Systems during the 4th quarter worth $237,000. Finally, GAMMA Investing LLC grew its holdings in Telephone and Data Systems by 8.7% during the 1st quarter. GAMMA Investing LLC now owns 6,243 shares of the Wireless communications provider’s stock worth $242,000 after acquiring an additional 501 shares in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Telephone and Data Systems Trading Up 1.1%

Telephone and Data Systems stock opened at $39.37 on Thursday. The firm’s 50-day moving average is $35.96 and its 200-day moving average is $36.03. 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, Inc. has a 1 year low of $17.90 and a 1 year high of $42.74. The company has a market cap of $4.49 billion, a P/E ratio of -37.50 and a beta of 0.51.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings results on Friday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share (EPS) 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 previous year, the business posted $0.10 earnings per share. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. On average, equities 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 firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.04 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.41%. Telephone and Data Systems’s payout ratio is currently -15.24%.

Analysts Set New Price Targets

TDS has been the subject of several recent analyst reports. Wall Street Zen raised shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Raymond James Financial reissued an “outperform” rating and set a $49.00 price objective (up from $47.00) on shares of Telephone and Data Systems in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Telephone and Data Systems from $56.00 to $53.00 and set an “overweight” rating for the company 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.