Healthcare of Ontario Pension Plan Trust Fund cut its stake in Telephone and Data Systems, Inc. (NYSE:TDS – Free Report) by 34.7% during the first quarter, HoldingsChannel reports. The firm owned 555,400 shares of the Wireless communications provider’s stock after selling 295,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Telephone and Data Systems were worth $23,382,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in Telephone and Data Systems by 25.8% in the 1st quarter. Royal Bank of Canada now owns 42,165 shares of the Wireless communications provider’s stock worth $1,633,000 after acquiring an additional 8,640 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Telephone and Data Systems by 21.3% during the first quarter. AQR Capital Management LLC now owns 67,125 shares of the Wireless communications provider’s stock valued at $2,574,000 after acquiring an additional 11,769 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Telephone and Data Systems by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,721 shares of the Wireless communications provider’s stock valued at $2,275,000 after acquiring an additional 2,572 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Telephone and Data Systems in the first quarter valued at approximately $248,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Telephone and Data Systems by 358.3% in the second quarter. Russell Investments Group Ltd. now owns 27,043 shares of the Wireless communications provider’s stock valued at $962,000 after purchasing an additional 21,142 shares during the period. Hedge funds and other institutional investors own 80.00% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on TDS shares. Raymond James Financial lowered Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Wall Street Zen raised Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Weiss Ratings lowered Telephone and Data Systems from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.33.
Telephone and Data Systems Price Performance
NYSE TDS opened at $34.33 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.42 and a current ratio of 3.43. The firm’s 50 day moving average price is $37.70 and its 200-day moving average price is $42.00. Telephone and Data Systems, Inc. has a 52-week low of $33.01 and a 52-week high of $49.12. The company has a market cap of $3.91 billion, a PE ratio of 64.77 and a beta of 0.30.
Telephone and Data Systems (NYSE:TDS – Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.87) by $1.98. The company had revenue of $309.45 million during the quarter, compared to the consensus estimate of $313.27 million. Telephone and Data Systems had a net margin of 6.15% and a return on equity of 5.54%. Telephone and Data Systems’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. Sell-side analysts forecast that Telephone and Data Systems, Inc. will post 0.94 EPS for the current fiscal year.
Telephone and Data Systems Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $0.04 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Telephone and Data Systems’s dividend payout ratio (DPR) is currently 30.19%.
Telephone and Data Systems Company Profile
Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.
TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.
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