Pinnacle Associates Ltd. decreased its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,230,621 shares of the Wireless communications provider’s stock after selling 55,835 shares during the period. Pinnacle Associates Ltd. owned about 1.12% of Telephone and Data Systems worth $34,150,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Telephone and Data Systems by 11.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,795 shares of the Wireless communications provider’s stock valued at $105,000 after buying an additional 387 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in 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 in the last quarter. Sei Investments Co. increased 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 valued at $135,000 after buying an additional 594 shares in the last quarter. LS Investment Advisors LLC increased its stake in Telephone and Data Systems by 20.0% in the second quarter. LS Investment Advisors LLC now owns 7,451 shares of the Wireless communications provider’s stock valued at $207,000 after buying an additional 1,242 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in Telephone and Data Systems during the second quarter valued at $209,000. 82.53% of the stock is currently owned by institutional investors.

Shares of Telephone and Data Systems, Inc. (NYSE:TDS) traded up 1.26% during mid-day trading on Friday, reaching $29.68. 37,410 shares of the company’s stock traded hands. Telephone and Data Systems, Inc. has a one year low of $24.12 and a one year high of $32.97. The firm’s 50-day moving average is $28.68 and its 200 day moving average is $27.80. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 60.70 and a beta of 1.04.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings results 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. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Telephone and Data Systems had a net margin of 1.09% and a return on equity of 1.15%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. Analysts predict that Telephone and Data Systems, Inc. will post $0.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.155 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.12%. Telephone and Data Systems’s dividend payout ratio (DPR) is presently 129.17%.

COPYRIGHT VIOLATION NOTICE: “Telephone and Data Systems, Inc. (TDS) Shares Sold by Pinnacle Associates Ltd.” was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/telephone-and-data-systems-inc-tds-shares-sold-by-pinnacle-associates-ltd/1536267.html.

Several analysts have weighed in on the stock. Zacks Investment Research raised shares of Telephone and Data Systems from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, August 8th. BidaskClub raised shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target 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).

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

Receive News & Ratings for Telephone and Data Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telephone and Data Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.