Vestcor Inc Lowers Position in Telephone and Data Systems, Inc. $TDS

Vestcor Inc trimmed its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 20.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 180,000 shares of the Wireless communications provider’s stock after selling 45,000 shares during the quarter. Vestcor Inc owned 0.16% of Telephone and Data Systems worth $7,063,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in Telephone and Data Systems by 65.6% in the 3rd quarter. Bessemer Group Inc. now owns 699 shares of the Wireless communications provider’s stock valued at $28,000 after purchasing an additional 277 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Telephone and Data Systems by 121.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 830 shares of the Wireless communications provider’s stock worth $31,000 after buying an additional 455 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Telephone and Data Systems by 53.1% in the 2nd quarter. Assetmark Inc. now owns 1,297 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 450 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Telephone and Data Systems by 191.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the Wireless communications provider’s stock valued at $47,000 after buying an additional 861 shares during the period. Finally, Aster Capital Management DIFC Ltd lifted its holdings in shares of Telephone and Data Systems by 48.4% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 2,402 shares of the Wireless communications provider’s stock valued at $94,000 after buying an additional 783 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Price Performance

Shares of NYSE:TDS opened at $44.87 on Tuesday. The business’s 50 day simple moving average is $44.28 and its 200-day simple moving average is $40.79. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of -69.03 and a beta of 0.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.10 and a quick ratio of 2.09. Telephone and Data Systems, Inc. has a 12 month low of $31.07 and a 12 month high of $47.79.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings data on Friday, February 20th. The Wireless communications provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.23. The firm had revenue of $330.71 million during the quarter, compared to the consensus estimate of $319.28 million. Telephone and Data Systems had a positive return on equity of 2.25% and a negative net margin of 0.21%.Telephone and Data Systems’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business posted ($0.10) EPS. As a group, equities analysts forecast that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be given a $0.04 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -24.62%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Citigroup upped their price objective on Telephone and Data Systems from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Wall Street Zen downgraded Telephone and Data Systems from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Weiss Ratings upgraded shares of Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. Finally, Zacks Research cut shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.33.

Telephone and Data Systems 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.