BlackRock Inc. Has $268.37 Million Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

BlackRock Inc. lowered its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 10.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 11,688,608 shares of the Wireless communications provider’s stock after selling 1,386,044 shares during the period. BlackRock Inc. owned approximately 0.10% of Telephone and Data Systems worth $268,370,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State of Michigan Retirement System boosted its stake in shares of Telephone and Data Systems by 1.7% in the 1st quarter. State of Michigan Retirement System now owns 36,874 shares of the Wireless communications provider’s stock worth $847,000 after buying an additional 600 shares during the last quarter. American International Group Inc. boosted its stake in shares of Telephone and Data Systems by 0.5% in the 1st quarter. American International Group Inc. now owns 180,492 shares of the Wireless communications provider’s stock worth $4,144,000 after buying an additional 835 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Telephone and Data Systems by 0.7% in the 1st quarter. Alliancebernstein L.P. now owns 138,168 shares of the Wireless communications provider’s stock worth $3,172,000 after buying an additional 913 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Telephone and Data Systems by 4.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 25,900 shares of the Wireless communications provider’s stock worth $595,000 after buying an additional 1,000 shares during the last quarter. Finally, Denali Advisors LLC boosted its stake in shares of Telephone and Data Systems by 757.8% in the 1st quarter. Denali Advisors LLC now owns 1,321 shares of the Wireless communications provider’s stock worth $30,000 after buying an additional 1,167 shares during the last quarter. Institutional investors and hedge funds own 78.52% of the company’s stock.

A number of brokerages have recently weighed in on TDS. TheStreet upgraded Telephone and Data Systems from a “c+” rating to a “b-” rating in a research note on Friday, February 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on Telephone and Data Systems from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, May 14th. Citigroup boosted their target price on Telephone and Data Systems from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, May 14th. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their price target on shares of Telephone and Data Systems from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, May 12th. Finally, Zacks Investment Research cut shares of Telephone and Data Systems from a “hold” rating to a “strong sell” rating and set a $20.00 price target on the stock. in a report on Wednesday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Telephone and Data Systems presently has an average rating of “Buy” and an average target price of $28.64.

In other Telephone and Data Systems news, SVP Joseph R. Hanley sold 13,880 shares of the business’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $22.87, for a total transaction of $317,435.60. Following the sale, the senior vice president now owns 13,771 shares of the company’s stock, valued at approximately $314,942.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joseph R. Hanley sold 5,507 shares of the business’s stock in a transaction on Wednesday, May 26th. The shares were sold at an average price of $24.81, for a total transaction of $136,628.67. Following the sale, the senior vice president now directly owns 13,771 shares in the company, valued at approximately $341,658.51. The disclosure for this sale can be found here. Insiders have sold a total of 23,229 shares of company stock worth $552,496 in the last three months. Insiders own 14.43% of the company’s stock.

Shares of TDS stock opened at $26.18 on Friday. The firm’s fifty day simple moving average is $24.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.74 and a quick ratio of 2.59. Telephone and Data Systems, Inc. has a 1 year low of $16.38 and a 1 year high of $26.51. The company has a market cap of $2.99 billion, a PE ratio of 14.38 and a beta of 1.18.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Wednesday, May 5th. The Wireless communications provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.12. Telephone and Data Systems had a net margin of 4.09% and a return on equity of 3.87%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts forecast that Telephone and Data Systems, Inc. will post 1.02 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 15th will be issued a dividend of $0.175 per share. The ex-dividend date is Monday, June 14th. This represents a $0.70 dividend on an annualized basis and a yield of 2.67%. Telephone and Data Systems’s payout ratio is 36.27%.

About Telephone and Data Systems

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through three segments: UScellular, Wireline, and Cable. 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, asset management, smart water solutions, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, routers, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including headphones, smart speakers, and home automation and business management solutions.

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

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