Telephone and Data Systems, Inc. (TDS) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System trimmed its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 0.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,480 shares of the Wireless communications provider’s stock after selling 195 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of Telephone and Data Systems worth $4,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. raised its position 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. Sei Investments Co. raised its position in shares of 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 during the last quarter. LS Investment Advisors LLC raised its position in shares of 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 during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Telephone and Data Systems in the second quarter valued at about $209,000. Finally, Teacher Retirement System of Texas raised its position 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. Institutional investors and hedge funds own 82.53% of the company’s stock.

A number of equities research analysts have recently commented on TDS shares. BidaskClub cut shares of Telephone and Data Systems from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Zacks Investment Research upgraded shares of Telephone and Data Systems from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Telephone and Data Systems presently has a consensus rating of “Hold” and a consensus price target of $35.00.

Shares of Telephone and Data Systems, Inc. (NYSE:TDS) opened at 27.77 on Friday. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 56.79 and a beta of 1.04. The company has a 50 day moving average of $28.49 and a 200-day moving average of $27.57. Telephone and Data Systems, Inc. has a one year low of $24.12 and a one year high of $32.98.

Telephone and Data Systems (NYSE:TDS) last announced its earnings results on Friday, August 4th. The Wireless communications provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). Telephone and Data Systems had a net margin of 1.09% and a return on equity of 1.15%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts anticipate that Telephone and Data Systems, Inc. will post $0.45 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, September 14th. Telephone and Data Systems’s dividend payout ratio is currently 129.17%.

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Telephone and Data Systems 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).

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

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