First Mercantile Trust Co. boosted its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 112.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,699 shares of the Wireless communications provider’s stock after buying an additional 20,519 shares during the period. First Mercantile Trust Co.’s holdings in Telephone and Data Systems were worth $1,074,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Wedge Capital Management L L P NC purchased a new stake in Telephone and Data Systems during the second quarter worth approximately $209,000. First Trust Advisors LP boosted its stake in Telephone and Data Systems by 5.8% in the second quarter. First Trust Advisors LP now owns 2,727,953 shares of the Wireless communications provider’s stock worth $75,701,000 after buying an additional 149,539 shares during the period. Arizona State Retirement System boosted its stake in Telephone and Data Systems by 1.3% in the second quarter. Arizona State Retirement System now owns 39,500 shares of the Wireless communications provider’s stock worth $1,096,000 after buying an additional 500 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Telephone and Data Systems by 7.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 600,412 shares of the Wireless communications provider’s stock worth $16,662,000 after buying an additional 40,677 shares during the period. Finally, Sei Investments Co. boosted its stake in Telephone and Data Systems by 13.9% in the second quarter. Sei Investments Co. now owns 4,868 shares of the Wireless communications provider’s stock worth $135,000 after buying an additional 594 shares during the period. Institutional investors own 80.55% of the company’s stock.

Shares of Telephone and Data Systems, Inc. (NYSE:TDS) opened at 28.70 on Friday. The stock has a market cap of $3.17 billion, a PE ratio of 58.69 and a beta of 1.04. Telephone and Data Systems, Inc. has a 12 month low of $24.12 and a 12 month high of $32.98. The firm has a 50-day moving average price of $28.21 and a 200-day moving average price of $27.88.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings data on Friday, August 4th. The Wireless communications provider reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.04. Telephone and Data Systems had a return on equity of 1.15% and a net margin of 1.09%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the firm posted $0.25 earnings per share. Telephone and Data Systems’s quarterly revenue was down 3.7% on a year-over-year basis. Equities analysts forecast that Telephone and Data Systems, Inc. will post $0.44 EPS for the current year.

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A number of research firms recently commented on TDS. Zacks Investment Research upgraded Telephone and Data Systems from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday. BidaskClub upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.00.

About Telephone and Data Systems

Telephone and Data Systems, Inc is a diversified telecommunications company. The Company is engaged in conducting its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular), as well as providing its wireline services, cable services, and hosted and managed services (HMS), through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).

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Institutional Ownership by Quarter for Telephone and Data Systems (NYSE:TDS)

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