Vestcor Inc Decreases Stock Position in Telephone and Data Systems, Inc. $TDS

Vestcor Inc lessened its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 16.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 150,000 shares of the Wireless communications provider’s stock after selling 30,000 shares during the period. Vestcor Inc owned approximately 0.13% of Telephone and Data Systems worth $6,150,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Carronade Capital Management LP raised its holdings in Telephone and Data Systems by 8.5% during the 3rd quarter. Carronade Capital Management LP now owns 3,680,500 shares of the Wireless communications provider’s stock valued at $144,423,000 after buying an additional 288,000 shares during the period. Allianz Asset Management GmbH raised its holdings in Telephone and Data Systems by 21.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 456,451 shares of the Wireless communications provider’s stock valued at $17,911,000 after buying an additional 80,670 shares during the period. Segall Bryant & Hamill LLC raised its holdings in Telephone and Data Systems by 244.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 45,152 shares of the Wireless communications provider’s stock valued at $1,772,000 after buying an additional 32,035 shares during the period. SG Americas Securities LLC raised its holdings in Telephone and Data Systems by 343.6% during the 4th quarter. SG Americas Securities LLC now owns 39,597 shares of the Wireless communications provider’s stock valued at $1,623,000 after buying an additional 30,670 shares during the period. Finally, Oaktree Capital Management LP purchased a new stake in Telephone and Data Systems during the 3rd quarter valued at $144,732,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Stock Performance

Shares of Telephone and Data Systems stock opened at $39.18 on Friday. The stock’s fifty day moving average is $43.08 and its two-hundred day moving average is $42.59. The company has a market capitalization of $4.46 billion, a PE ratio of 73.92 and a beta of 0.28. The company has a quick ratio of 3.42, a current ratio of 3.43 and a debt-to-equity ratio of 0.16. Telephone and Data Systems, Inc. has a 52 week low of $32.60 and a 52 week high of $49.12.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $1.11 EPS for the quarter, beating the consensus estimate of ($0.87) by $1.98. The company had revenue of $309.45 million for the quarter, compared to the consensus estimate of $313.28 million. Telephone and Data Systems had a return on equity of 5.54% and a net margin of 6.15%.Telephone and Data Systems’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) EPS. As a group, analysts expect that Telephone and Data Systems, Inc. will post 0.94 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Telephone and Data Systems’s dividend payout ratio is presently 30.19%.

Wall Street Analyst Weigh In

TDS has been the topic of several recent research reports. Raymond James Financial lowered Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a report on Monday, May 11th. Citigroup upped their price objective on Telephone and Data Systems from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Wall Street Zen raised Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Weiss Ratings raised Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $53.33.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.