Xact Kapitalforvaltning AB cut its stake in shares of Telephone & Data Systems, Inc. (NYSE:TDS) by 31.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,025 shares of the Wireless communications provider’s stock after selling 7,900 shares during the period. Xact Kapitalforvaltning AB’s holdings in Telephone & Data Systems were worth $523,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Brandywine Global Investment Management LLC raised its position in Telephone & Data Systems by 5.4% during the fourth quarter. Brandywine Global Investment Management LLC now owns 359,086 shares of the Wireless communications provider’s stock valued at $11,685,000 after buying an additional 18,263 shares during the period. Stone Ridge Asset Management LLC raised its position in Telephone & Data Systems by 22.0% during the fourth quarter. Stone Ridge Asset Management LLC now owns 85,470 shares of the Wireless communications provider’s stock valued at $2,781,000 after buying an additional 15,407 shares during the period. Mackay Shields LLC raised its position in Telephone & Data Systems by 77.9% during the fourth quarter. Mackay Shields LLC now owns 437,057 shares of the Wireless communications provider’s stock valued at $14,222,000 after buying an additional 191,434 shares during the period. First Citizens Bank & Trust Co. raised its position in Telephone & Data Systems by 15.5% during the first quarter. First Citizens Bank & Trust Co. now owns 11,158 shares of the Wireless communications provider’s stock valued at $343,000 after buying an additional 1,495 shares during the period. Finally, Legal & General Group Plc raised its position in Telephone & Data Systems by 4.9% during the fourth quarter. Legal & General Group Plc now owns 187,408 shares of the Wireless communications provider’s stock valued at $6,099,000 after buying an additional 8,689 shares during the period. 80.91% of the stock is currently owned by institutional investors.

NYSE:TDS traded up $0.01 during trading hours on Thursday, hitting $29.72. 2,698 shares of the company’s stock traded hands, compared to its average volume of 567,605. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 25.34 and a beta of 1.03. Telephone & Data Systems, Inc. has a twelve month low of $24.00 and a twelve month high of $37.29. The company has a current ratio of 2.42, a quick ratio of 2.25 and a debt-to-equity ratio of 0.62.

Telephone & Data Systems (NYSE:TDS) last posted its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.14. Telephone & Data Systems had a return on equity of 2.92% and a net margin of 3.00%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. Telephone & Data Systems’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts forecast that Telephone & Data Systems, Inc. will post 1.03 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.165 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.66 dividend on an annualized basis and a yield of 2.22%. Telephone & Data Systems’s dividend payout ratio (DPR) is currently 56.41%.

In other Telephone & Data Systems news, Director Clarence A. Davis sold 2,410 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $30.18, for a total value of $72,733.80. Following the transaction, the director now owns 9,500 shares in the company, valued at $286,710. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth R. Meyers sold 40,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $32.30, for a total value of $1,292,000.00. Following the completion of the transaction, the insider now owns 32,305 shares in the company, valued at approximately $1,043,451.50. The disclosure for this sale can be found here. Insiders sold 62,277 shares of company stock worth $1,990,275 in the last 90 days. Corporate insiders own 14.33% of the company’s stock.

TDS has been the topic of several recent analyst reports. TheStreet lowered Telephone & Data Systems from a “b-” rating to a “c+” rating in a research report on Wednesday, May 1st. Zacks Investment Research lowered Telephone & Data Systems from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, ValuEngine lowered Telephone & Data Systems from a “buy” rating to a “hold” rating in a research report on Saturday, March 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Telephone & Data Systems has a consensus rating of “Hold” and a consensus price target of $38.20.

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Telephone & Data Systems Company Profile

Telephone and Data Systems, Inc, a telecommunications company, provides wireless, cable and wireline broadband, TV, voice, and hosted and managed services in the United States. It operates through three segments: U.S. Cellular, Wireline, and Cable. The company offers cellular services to postpaid and prepaid customers, including retail consumers, government entities, and small-to-mid-size business customers in industries, such as the construction, retail, agriculture, professional services, and real estate; and national plans with voice, messaging, and data usage options.

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

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