BlackRock Inc. Sells 1,386,044 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

BlackRock Inc. decreased its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 10.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,688,608 shares of the Wireless communications provider’s stock after selling 1,386,044 shares during the period. BlackRock Inc. owned about 10.22% of Telephone and Data Systems worth $268,370,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. American International Group Inc. raised its stake in Telephone and Data Systems by 0.5% in the first quarter. American International Group Inc. now owns 180,492 shares of the Wireless communications provider’s stock valued at $4,144,000 after buying an additional 835 shares during the period. BNP Paribas Arbitrage SA raised its stake in Telephone and Data Systems by 103.7% in the first quarter. BNP Paribas Arbitrage SA now owns 74,588 shares of the Wireless communications provider’s stock valued at $1,713,000 after buying an additional 37,965 shares during the period. Cibc World Markets Corp bought a new stake in Telephone and Data Systems in the first quarter valued at approximately $246,000. D.A. Davidson & CO. bought a new stake in Telephone and Data Systems in the first quarter valued at approximately $285,000. Finally, Swiss National Bank raised its stake in Telephone and Data Systems by 1.1% in the first quarter. Swiss National Bank now owns 220,100 shares of the Wireless communications provider’s stock valued at $5,053,000 after buying an additional 2,300 shares during the period. Hedge funds and other institutional investors own 78.52% of the company’s stock.

Shares of NYSE:TDS opened at $26.18 on Friday. The firm has a market capitalization of $2.99 billion, a P/E ratio of 14.38 and a beta of 1.18. 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 quick ratio of 2.59, a current ratio of 2.74 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $24.60.

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 for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.12. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Telephone and Data Systems had a return on equity of 3.87% and a net margin of 4.09%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. Sell-side analysts predict 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 $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Monday, June 14th. Telephone and Data Systems’s dividend payout ratio is presently 36.27%.

In other Telephone and Data Systems news, SVP Joseph R. Hanley sold 5,507 shares of the firm’s stock in a transaction on Wednesday, May 26th. The stock was sold at an average price of $24.81, for a total value of $136,628.67. Following the sale, the senior vice president now owns 13,771 shares of the company’s stock, valued at approximately $341,658.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joseph R. Hanley sold 13,880 shares of the firm’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $22.87, for a total value of $317,435.60. Following the completion of the sale, the senior vice president now directly owns 13,771 shares in the company, valued at approximately $314,942.77. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,229 shares of company stock worth $552,496. Company insiders own 14.43% of the company’s stock.

Several analysts have issued reports on TDS shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on Telephone and Data Systems from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, May 14th. TheStreet upgraded Telephone and Data Systems from a “c+” rating to a “b-” rating in a research note on Friday, February 12th. Zacks Investment Research lowered Telephone and Data Systems from a “hold” rating to a “strong sell” rating and set a $20.00 target price on the stock. in a research note on Wednesday, May 5th. JPMorgan Chase & Co. increased their target price on Telephone and Data Systems from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 12th. Finally, Citigroup increased 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $28.64.

Telephone and Data Systems Company Profile

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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