Riverhead Capital Management LLC cut its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 52.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,888 shares of the Wireless communications provider’s stock after selling 8,812 shares during the quarter. Riverhead Capital Management LLC’s holdings in Telephone and Data Systems were worth $219,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Telephone and Data Systems by 4,117.8% during the 1st quarter. BlackRock Inc. now owns 16,773,204 shares of the Wireless communications provider’s stock valued at $444,657,000 after purchasing an additional 16,375,531 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Telephone and Data Systems by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 9,668,119 shares of the Wireless communications provider’s stock valued at $256,302,000 after purchasing an additional 246,308 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Telephone and Data Systems by 8.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,284,698 shares of the Wireless communications provider’s stock valued at $166,607,000 after purchasing an additional 487,203 shares during the last quarter. Gabelli Funds LLC increased its position in shares of Telephone and Data Systems by 0.9% during the 2nd quarter. Gabelli Funds LLC now owns 2,889,710 shares of the Wireless communications provider’s stock valued at $80,189,000 after purchasing an additional 26,000 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Telephone and Data Systems by 23.8% during the 1st quarter. Teachers Advisors LLC now owns 2,787,371 shares of the Wireless communications provider’s stock valued at $73,893,000 after purchasing an additional 536,603 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Shares of Telephone and Data Systems, Inc. (NYSE:TDS) opened at 28.04 on Friday. Telephone and Data Systems, Inc. has a one year low of $24.12 and a one year high of $32.98. The company has a 50-day moving average price of $28.49 and a 200 day moving average price of $27.57. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 57.34 and a beta of 1.04.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Thursday, September 14th. Telephone and Data Systems’s payout ratio is 129.17%.

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Several brokerages have recently issued reports on TDS. Zacks Investment Research raised 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. BidaskClub raised Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Telephone and Data Systems currently has a consensus rating of “Hold” and a consensus price target of $35.00.

About Telephone and Data Systems

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).

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

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