Panagora Asset Management Inc. Decreases Holdings in Telephone and Data Systems, Inc. $TDS

Panagora Asset Management Inc. lowered its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 46.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 191,483 shares of the Wireless communications provider’s stock after selling 169,269 shares during the period. Panagora Asset Management Inc. owned approximately 0.17% of Telephone and Data Systems worth $6,813,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TDS. Loomis Sayles & Co. L P boosted its position in Telephone and Data Systems by 3.9% during the second quarter. Loomis Sayles & Co. L P now owns 578,459 shares of the Wireless communications provider’s stock worth $20,582,000 after purchasing an additional 21,965 shares in the last quarter. Norges Bank acquired a new position in shares of Telephone and Data Systems during the 2nd quarter worth $12,068,000. Hsbc Holdings PLC boosted its position in shares of Telephone and Data Systems by 37.0% in the 2nd quarter. Hsbc Holdings PLC now owns 40,797 shares of the Wireless communications provider’s stock worth $1,449,000 after buying an additional 11,015 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of 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 worth $962,000 after buying an additional 21,142 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co acquired a new stake in Telephone and Data Systems in the 2nd quarter valued at about $604,000. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Stock Performance

NYSE:TDS opened at $39.62 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.78 and a quick ratio of 1.65. The firm has a market cap of $4.56 billion, a PE ratio of -40.84 and a beta of 0.31. The firm has a 50 day simple moving average of $38.78 and a 200-day simple moving average of $37.70. Telephone and Data Systems, Inc. has a 1-year low of $31.07 and a 1-year high of $42.74.

Telephone and Data Systems (NYSE:TDS) last announced its earnings results on Friday, November 7th. The Wireless communications provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.13. The firm had revenue of $308.52 million for the quarter, compared to analyst estimates of $1.16 billion. Telephone and Data Systems had a negative net margin of 0.85% and a positive return on equity of 0.92%. Telephone and Data Systems’s revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.73) earnings per share. On average, equities analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Telephone and Data Systems’s payout ratio is currently -14.81%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Zacks Research upgraded shares of Telephone and Data Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Telephone and Data Systems in a research note on Monday. Citigroup initiated coverage on Telephone and Data Systems in a research report on Wednesday, November 26th. They set a “buy” rating and a $45.00 price objective for the company. Raymond James Financial upped their target price on Telephone and Data Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen cut Telephone and Data Systems from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.67.

Insider Buying and Selling

In related news, CAO Anita J. Kroll sold 16,217 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $39.02, for a total value of $632,787.34. Following the completion of the transaction, the chief accounting officer directly owned 870 shares in the company, valued at approximately $33,947.40. This represents a 94.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 14.48% of the company’s stock.

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.