Municipal Employees Retirement System of Michigan decreased its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 16.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,210 shares of the Wireless communications provider’s stock after selling 7,110 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Telephone and Data Systems were worth $1,005,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Capstone Asset Management Co. increased its stake in shares of Telephone and Data Systems by 0.4% in the first quarter. Capstone Asset Management Co. now owns 16,996 shares of the Wireless communications provider’s stock valued at $451,000 after buying an additional 70 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Telephone and Data Systems by 2.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,094 shares of the Wireless communications provider’s stock valued at $108,000 after buying an additional 84 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Telephone and Data Systems by 2.4% in the first quarter. Teacher Retirement System of Texas now owns 7,923 shares of the Wireless communications provider’s stock valued at $210,000 after buying an additional 183 shares during the last quarter. First Manhattan Co. increased its stake in shares of Telephone and Data Systems by 0.3% in the first quarter. First Manhattan Co. now owns 107,320 shares of the Wireless communications provider’s stock valued at $2,916,000 after buying an additional 300 shares during the last quarter. Finally, Advantus Capital Management Inc increased its stake in shares of Telephone and Data Systems by 3.2% in the first quarter. Advantus Capital Management Inc now owns 11,993 shares of the Wireless communications provider’s stock valued at $318,000 after buying an additional 376 shares during the last quarter. Hedge funds and other 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 firm has a 50 day moving average price of $28.21 and a 200-day moving average price of $27.88. The company has a market cap of $3.17 billion, a P/E 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.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings results on Friday, August 4th. The Wireless communications provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.27 billion. Telephone and Data Systems had a return on equity of 1.15% and a net margin of 1.09%. Telephone and Data Systems’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. Analysts anticipate that Telephone and Data Systems, Inc. will post $0.44 earnings per share for the current fiscal year.

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Several brokerages recently weighed in on TDS. BidaskClub upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded Telephone and Data Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $35.00.

Telephone and Data Systems Company Profile

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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