Vanguard Group Inc. Reduces Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Vanguard Group Inc. cut its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,467,997 shares of the Wireless communications provider’s stock after selling 681,524 shares during the period. Vanguard Group Inc. owned approximately 10.06% of Telephone and Data Systems worth $444,270,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bayforest Capital Ltd boosted its position in Telephone and Data Systems by 121.8% in 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. purchased a new position in Telephone and Data Systems in the fourth quarter worth about $56,000. Lazard Asset Management LLC boosted its position 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 last quarter. Forum Financial Management LP purchased a new position in Telephone and Data Systems in the first quarter worth about $200,000. Finally, United Capital Financial Advisors LLC purchased a new position in Telephone and Data Systems in the fourth quarter worth about $201,000. 80.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wall Street Zen cut Telephone and Data Systems from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. raised their target price on Telephone and Data Systems from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Raymond James Financial raised their target price on Telephone and Data Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday.

Telephone and Data Systems Stock Down 0.8%

NYSE TDS opened at $38.51 on Friday. The stock’s 50-day moving average price is $36.92 and its 200-day moving average price is $36.26. The company has a quick ratio of 1.55, a current ratio of 1.78 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a 52 week low of $20.04 and a 52 week high of $42.74. The company has a market capitalization of $4.39 billion, a P/E ratio of -39.70 and a beta of 0.54.

Telephone and Data Systems (NYSE:TDS) last issued its 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 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 negative net margin of 0.85% and a positive return on equity of 0.92%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the business posted ($0.13) EPS. On average, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Telephone and Data Systems’s dividend payout ratio (DPR) is -16.49%.

Insider Activity at Telephone and Data Systems

In other Telephone and Data Systems news, CFO Vicki L. Villacrez sold 58,452 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $38.56, for a total transaction of $2,253,909.12. Following the completion of the transaction, the chief financial officer owned 26,788 shares in the company, valued at $1,032,945.28. This trade represents a 68.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Anita J. Kroll sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $39.16, for a total value of $31,328.00. Following the transaction, the chief accounting officer owned 19,492 shares of the company’s stock, valued at $763,306.72. This represents a 3.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,497 shares of company stock valued at $6,531,504. 14.97% of the stock is owned by company 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.