VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Telephone and Data Systems, Inc. $TDS

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Telephone and Data Systems, Inc. (NYSE:TDS) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 56,700 shares of the Wireless communications provider’s stock, valued at approximately $2,098,000.

A number of other institutional investors have also recently made changes to their positions in TDS. Captrust Financial Advisors grew its holdings in shares of Telephone and Data Systems by 3.8% in the fourth quarter. Captrust Financial Advisors now owns 6,026 shares of the Wireless communications provider’s stock worth $247,000 after purchasing an additional 220 shares during the last quarter. CIBC Asset Management Inc boosted its position in Telephone and Data Systems by 2.4% during the 4th quarter. CIBC Asset Management Inc now owns 9,804 shares of the Wireless communications provider’s stock valued at $402,000 after buying an additional 232 shares during the period. Maryland State Retirement & Pension System grew its holdings in Telephone and Data Systems by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 14,362 shares of the Wireless communications provider’s stock worth $589,000 after acquiring an additional 233 shares during the last quarter. HighTower Advisors LLC grew its holdings in Telephone and Data Systems by 4.3% in the 4th quarter. HighTower Advisors LLC now owns 5,866 shares of the Wireless communications provider’s stock worth $241,000 after acquiring an additional 240 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Telephone and Data Systems by 29.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,085 shares of the Wireless communications provider’s stock valued at $46,000 after acquiring an additional 245 shares during the period. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Analyst Ratings Changes

TDS has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Telephone and Data Systems from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. Citigroup reduced their price target on Telephone and Data Systems from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Weiss Ratings raised Telephone and Data Systems from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Zacks Research lowered Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Telephone and Data Systems has a consensus rating of “Hold” and a consensus target price of $47.50.

Telephone and Data Systems Stock Performance

Shares of Telephone and Data Systems stock opened at $37.45 on Friday. Telephone and Data Systems, Inc. has a 12 month low of $31.51 and a 12 month high of $49.12. The firm has a market capitalization of $4.31 billion, a P/E ratio of 12.48 and a beta of 0.33. The company has a current ratio of 3.82, a quick ratio of 3.81 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $34.69 and a two-hundred day simple moving average of $39.63.

Telephone and Data Systems (NYSE:TDS) last released its earnings results on Friday, August 7th. The Wireless communications provider reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $2.15. The firm had revenue of $309.28 million for the quarter, compared to the consensus estimate of $315.78 million. Telephone and Data Systems had a net margin of 33.20% and a return on equity of 11.97%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. On average, equities analysts forecast that Telephone and Data Systems, Inc. will post -0.24 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, September 15th. Telephone and Data Systems’s dividend payout ratio is 5.33%.

Telephone and Data Systems Profile

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company that provides broadband, voice, video, wireless and managed communications services in the United States. Its operations primarily serve residential, business and government customers in smaller cities, suburban communities and rural markets.

TDS Telecom is the company’s primary operating business. It delivers high-speed internet, fiber-based connectivity, traditional and digital voice services, video entertainment, hosted and managed services, and other communications solutions.