Telephone and Data Systems, Inc. $TDS Shares Sold by Private Management Group Inc.

Private Management Group Inc. decreased its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 483,079 shares of the Wireless communications provider’s stock after selling 16,692 shares during the period. Private Management Group Inc. owned approximately 0.42% of Telephone and Data Systems worth $19,806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TDS. Royal Bank of Canada increased its position in Telephone and Data Systems by 25.8% during the 1st quarter. Royal Bank of Canada now owns 42,165 shares of the Wireless communications provider’s stock worth $1,633,000 after purchasing an additional 8,640 shares during the period. AQR Capital Management LLC increased its stake in Telephone and Data Systems by 21.3% in the 1st quarter. AQR Capital Management LLC now owns 67,125 shares of the Wireless communications provider’s stock valued at $2,574,000 after purchasing an additional 11,769 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Telephone and Data Systems by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,721 shares of the Wireless communications provider’s stock valued at $2,275,000 after purchasing an additional 2,572 shares in the last quarter. United Services Automobile Association purchased a new position in Telephone and Data Systems in the 1st quarter valued at approximately $248,000. Finally, Russell Investments Group Ltd. increased its stake in Telephone and Data Systems by 358.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 27,043 shares of the Wireless communications provider’s stock valued at $962,000 after purchasing an additional 21,142 shares in the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Telephone and Data Systems in a research note on Friday, June 5th. Wall Street Zen raised Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Raymond James Financial downgraded Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Finally, Citigroup lifted their price target on Telephone and Data Systems from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $53.33.

Telephone and Data Systems Price Performance

Shares of NYSE:TDS opened at $40.03 on Friday. The business’s fifty day moving average price is $42.86 and its two-hundred day moving average price is $42.67. The stock has a market cap of $4.55 billion, a PE ratio of 75.52 and a beta of 0.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.42 and a current ratio of 3.43. Telephone and Data Systems, Inc. has a one year low of $32.60 and a one year high of $49.12.

Telephone and Data Systems (NYSE:TDS) last announced its earnings results on Friday, May 8th. The Wireless communications provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $1.98. The firm had revenue of $309.45 million for the quarter, compared to analysts’ expectations 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 firm earned ($0.09) EPS. On average, analysts forecast that Telephone and Data Systems, Inc. will post 0.94 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

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

Telephone and Data Systems 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.