Comerica Bank Reduces Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Comerica Bank lessened its position in shares of Telephone and Data Systems, Inc. (NYSE:TDSGet Rating) by 9.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 78,344 shares of the Wireless communications provider’s stock after selling 7,715 shares during the quarter. Comerica Bank’s holdings in Telephone and Data Systems were worth $1,244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in TDS. First Horizon Advisors Inc. purchased a new position in Telephone and Data Systems during the 2nd quarter worth approximately $31,000. EMC Capital Management grew its stake in Telephone and Data Systems by 51.1% during the 2nd quarter. EMC Capital Management now owns 3,172 shares of the Wireless communications provider’s stock worth $50,000 after buying an additional 1,073 shares during the last quarter. Covestor Ltd grew its stake in Telephone and Data Systems by 56.2% during the 1st quarter. Covestor Ltd now owns 3,954 shares of the Wireless communications provider’s stock worth $75,000 after buying an additional 1,422 shares during the last quarter. Lazard Asset Management LLC lifted its position in Telephone and Data Systems by 122.9% during the 2nd quarter. Lazard Asset Management LLC now owns 5,316 shares of the Wireless communications provider’s stock worth $83,000 after acquiring an additional 2,931 shares during the period. Finally, US Bancorp DE lifted its position in Telephone and Data Systems by 19.2% during the 2nd quarter. US Bancorp DE now owns 6,091 shares of the Wireless communications provider’s stock worth $97,000 after acquiring an additional 979 shares during the period. Hedge funds and other institutional investors own 83.68% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Raymond James cut Telephone and Data Systems from a “strong-buy” rating to a “market perform” rating in a research report on Monday, November 7th. StockNews.com cut Telephone and Data Systems from a “hold” rating to a “sell” rating in a research report on Monday, November 7th. TheStreet cut Telephone and Data Systems from a “c-” rating to a “d+” rating in a research report on Thursday, December 1st. Finally, JPMorgan Chase & Co. raised Telephone and Data Systems from an “underweight” rating to a “neutral” rating and decreased their price objective for the stock from $21.00 to $14.00 in a research report on Tuesday, November 8th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, Telephone and Data Systems presently has an average rating of “Hold” and an average target price of $20.33.

Telephone and Data Systems Stock Up 1.3 %

TDS opened at $12.36 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.48 and a quick ratio of 1.30. The business has a 50 day simple moving average of $10.73 and a 200-day simple moving average of $13.78. The stock has a market capitalization of $1.40 billion, a P/E ratio of 30.15 and a beta of 0.93. Telephone and Data Systems, Inc. has a 12 month low of $9.65 and a 12 month high of $21.05.

Telephone and Data Systems (NYSE:TDSGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The Wireless communications provider reported ($0.22) EPS for the quarter. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.33 billion. Telephone and Data Systems had a net margin of 2.19% and a return on equity of 2.10%. On average, equities analysts anticipate that Telephone and Data Systems, Inc. will post -0.06 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $0.72 annualized dividend and a yield of 5.83%. Telephone and Data Systems’s dividend payout ratio is presently 175.61%.

About Telephone and Data Systems

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Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. 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, fleet and asset management, smart water solutions, private cellular networks and custom, 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 audio, home automation and networking products.

See Also

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

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