Telephone & Data Systems Inc. (NYSE:TDS) dropped 2.2% during trading on Monday . The company traded as low as $30.61 and last traded at $30.65, with a volume of 287,863 shares traded. The stock had previously closed at $31.34.

TDS has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Telephone & Data Systems from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Thursday, May 12th. Morgan Stanley reiterated a “hold” rating on shares of Telephone & Data Systems in a research report on Thursday, June 30th.

The company’s 50-day moving average price is $30.26 and its 200 day moving average price is $28.11. The stock has a market cap of $3.32 billion and a PE ratio of 39.19.

Telephone & Data Systems (NYSE:TDS) last issued its quarterly earnings data on Friday, August 5th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.12. During the same quarter last year, the business earned $0.21 earnings per share. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. The company’s revenue was up .5% on a year-over-year basis. Equities research analysts predict that Telephone & Data Systems Inc. will post $0.40 earnings per share for the current fiscal year.

In other news, SVP Scott H. Williamson sold 13,146 shares of Telephone & Data Systems stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $28.58, for a total value of $375,712.68. Following the completion of the sale, the senior vice president now directly owns 43,308 shares in the company, valued at $1,237,742.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Clarence A. Davis sold 1,400 shares of Telephone & Data Systems stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $28.24, for a total transaction of $39,536.00. Following the completion of the sale, the director now owns 7,649 shares of the company’s stock, valued at $216,007.76. The disclosure for this sale can be found here.

Other large investors have added to or reduced their stakes in the company. Liberty Mutual Group Asset Management Inc. increased its stake in Telephone & Data Systems by 46.2% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 58,706 shares of the company’s stock worth $1,520,000 after buying an additional 18,553 shares during the last quarter. Comerica Bank increased its stake in Telephone & Data Systems by 0.8% in the fourth quarter. Comerica Bank now owns 65,979 shares of the company’s stock worth $1,574,000 after buying an additional 512 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in Telephone & Data Systems by 3.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 64,498 shares of the company’s stock worth $1,670,000 after buying an additional 1,872 shares during the last quarter. New York State Common Retirement Fund increased its stake in Telephone & Data Systems by 3.4% in the fourth quarter. New York State Common Retirement Fund now owns 222,724 shares of the company’s stock worth $5,766,000 after buying an additional 7,324 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Telephone & Data Systems by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 301,432 shares of the company’s stock worth $7,804,000 after buying an additional 8,194 shares during the last quarter.

Telephone and Data Systems, Inc is a diversified telecommunications company. The Company conducts its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular). It provides Wireline services, cable services and hosted and managed services, through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).

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