Vestcor Inc Sells 30,000 Shares of Telephone and Data Systems, Inc. $TDS

Vestcor Inc decreased its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 16.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 150,000 shares of the Wireless communications provider’s stock after selling 30,000 shares during the quarter. Vestcor Inc’s holdings in Telephone and Data Systems were worth $6,150,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Salomon & Ludwin LLC grew its position in shares of Telephone and Data Systems by 51.3% during the 4th quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock worth $28,000 after buying an additional 231 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Telephone and Data Systems by 2.4% during the 4th quarter. CIBC Asset Management Inc now owns 9,804 shares of the Wireless communications provider’s stock worth $402,000 after buying an additional 232 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Telephone and Data Systems by 4.3% during the 4th quarter. HighTower Advisors LLC now owns 5,866 shares of the Wireless communications provider’s stock worth $241,000 after buying an additional 240 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Telephone and Data Systems by 65.6% during the 3rd quarter. Bessemer Group Inc. now owns 699 shares of the Wireless communications provider’s stock worth $28,000 after buying an additional 277 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of Telephone and Data Systems by 0.9% during the 3rd quarter. Truist Financial Corp now owns 36,829 shares of the Wireless communications provider’s stock worth $1,445,000 after buying an additional 316 shares in the last quarter. Institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Price Performance

Shares of TDS stock opened at $39.18 on Friday. Telephone and Data Systems, Inc. has a 1-year low of $32.60 and a 1-year high of $49.12. The stock’s 50-day moving average is $43.08 and its 200 day moving average is $42.59. The company has a market cap of $4.46 billion, a P/E ratio of 73.92 and a beta of 0.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.43 and a quick ratio of 3.42.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $1.98. Telephone and Data Systems had a return on equity of 5.54% and a net margin of 6.15%.The company had revenue of $309.45 million for the quarter, compared to the consensus estimate of $313.28 million. During the same quarter last year, the company earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts predict that Telephone and Data Systems, Inc. will post 0.94 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Telephone and Data Systems’s dividend payout ratio (DPR) is presently 30.19%.

Analyst Ratings Changes

A number of research firms have recently issued reports on TDS. Raymond James Financial downgraded 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 raised their price objective on Telephone and Data Systems from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings raised Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Telephone and Data Systems currently has a consensus rating of “Hold” and a consensus price target of $53.33.

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.