Kerrisdale Advisers LLC lowered its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS – Free Report) by 45.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,758 shares of the Wireless communications provider’s stock after selling 134,208 shares during the quarter. Telephone and Data Systems makes up about 1.5% of Kerrisdale Advisers LLC’s holdings, making the stock its 16th biggest position. Kerrisdale Advisers LLC’s holdings in Telephone and Data Systems were worth $6,061,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of 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 valued at $1,633,000 after buying an additional 8,640 shares in the last quarter. AQR Capital Management LLC lifted its position in Telephone and Data Systems by 21.3% in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Telephone and Data Systems by 4.6% in 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 during the last quarter. United Services Automobile Association acquired a new position in Telephone and Data Systems in the first quarter valued at $248,000. Finally, Russell Investments Group Ltd. boosted its stake in 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 acquiring an additional 21,142 shares in the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.
Telephone and Data Systems Stock Performance
Shares of TDS stock opened at $33.70 on Monday. The stock’s 50-day moving average price is $34.84 and its 200 day moving average price is $40.25. The company has a quick ratio of 3.81, a current ratio of 3.82 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.88 billion, a PE ratio of 11.23 and a beta of 0.32. Telephone and Data Systems, Inc. has a 52-week low of $31.51 and a 52-week high of $49.12.
Telephone and Data Systems Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Telephone and Data Systems’s dividend payout ratio (DPR) is currently 5.33%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on TDS shares. Raymond James Financial cut 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. Citigroup dropped their price target on Telephone and Data Systems from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Zacks Research upgraded Telephone and Data Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings raised Telephone and Data Systems from a “hold (c-)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Telephone and Data Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.
Check Out Our Latest Stock Report on Telephone and Data Systems
About Telephone and Data Systems
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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