Meeder Asset Management Inc. Acquires 2,101 Shares of Telephone & Data Systems, Inc. (NYSE:TDS)

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Meeder Asset Management Inc. boosted its holdings in Telephone & Data Systems, Inc. (NYSE:TDS) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,087 shares of the Wireless communications provider’s stock after buying an additional 2,101 shares during the quarter. Meeder Asset Management Inc.’s holdings in Telephone & Data Systems were worth $792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TDS. First Trust Advisors LP raised its holdings in Telephone & Data Systems by 199.2% in the 2nd quarter. First Trust Advisors LP now owns 2,820,191 shares of the Wireless communications provider’s stock valued at $85,734,000 after buying an additional 1,877,500 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Telephone & Data Systems by 15.6% in the 1st quarter. Acadian Asset Management LLC now owns 2,961,527 shares of the Wireless communications provider’s stock valued at $91,008,000 after buying an additional 399,521 shares during the last quarter. Geode Capital Management LLC raised its holdings in Telephone & Data Systems by 30.8% in the 4th quarter. Geode Capital Management LLC now owns 1,421,622 shares of the Wireless communications provider’s stock valued at $46,258,000 after buying an additional 334,975 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Telephone & Data Systems by 3.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,420,433 shares of the Wireless communications provider’s stock valued at $274,001,000 after buying an additional 305,937 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Telephone & Data Systems by 108.7% in the 1st quarter. Janus Henderson Group PLC now owns 221,391 shares of the Wireless communications provider’s stock valued at $6,803,000 after buying an additional 115,291 shares during the last quarter. Institutional investors and hedge funds own 80.78% of the company’s stock.

A number of research analysts recently issued reports on TDS shares. ValuEngine lowered shares of Telephone & Data Systems from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. JPMorgan Chase & Co. upgraded shares of Telephone & Data Systems from an “underweight” rating to a “neutral” rating and dropped their price objective for the company from $32.00 to $31.00 in a report on Monday, August 5th. Morgan Stanley upgraded shares of Telephone & Data Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $33.00 to $47.50 in a report on Tuesday, June 18th. Zacks Investment Research upgraded shares of Telephone & Data Systems from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Tuesday, July 2nd. Finally, TheStreet lowered shares of Telephone & Data Systems from a “b-” rating to a “c+” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $37.70.

Telephone & Data Systems stock opened at $24.81 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.24 and a current ratio of 2.41. Telephone & Data Systems, Inc. has a 52-week low of $24.33 and a 52-week high of $37.29. The firm has a 50 day moving average price of $29.52 and a two-hundred day moving average price of $31.33. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 21.21 and a beta of 1.03.

Telephone & Data Systems (NYSE:TDS) last released its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). Telephone & Data Systems had a return on equity of 2.89% and a net margin of 2.99%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the business posted $0.29 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities research analysts predict that Telephone & Data Systems, Inc. will post 1.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.165 per share. The ex-dividend date is Friday, September 13th. This represents a $0.66 annualized dividend and a yield of 2.66%. Telephone & Data Systems’s payout ratio is 56.41%.

In other news, Director Clarence A. Davis sold 2,410 shares of Telephone & Data Systems stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $30.18, for a total value of $72,733.80. Following the completion of the sale, the director now owns 9,500 shares in the company, valued at approximately $286,710. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wade Oosterman acquired 5,000 shares of the stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $24.88 per share, with a total value of $124,400.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $124,400. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 44,136 shares of company stock valued at $1,449,559. Company insiders own 14.33% of the company’s stock.

Telephone & Data Systems Profile

Telephone and Data Systems, Inc, a telecommunications company, provides wireless, cable and wireline broadband, TV, voice, and hosted and managed services in the United States. It operates through three segments: U.S. Cellular, Wireline, and Cable. The company offers cellular services to postpaid and prepaid customers, including retail consumers, government entities, and small-to-mid-size business customers in industries, such as the construction, retail, agriculture, professional services, and real estate; and national plans with voice, messaging, and data usage options.

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

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