TIAA CREF Investment Management LLC lowered its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 913,258 shares of the Wireless communications provider’s stock after selling 41,775 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.83% of Telephone and Data Systems worth $25,343,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Telephone and Data Systems by 2.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,094 shares of the Wireless communications provider’s stock worth $108,000 after acquiring an additional 84 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Telephone and Data Systems by 2.4% in the first quarter. Teacher Retirement System of Texas now owns 7,923 shares of the Wireless communications provider’s stock worth $210,000 after acquiring an additional 183 shares during the last quarter. Advantus Capital Management Inc lifted its holdings in shares of Telephone and Data Systems by 3.2% in the first quarter. Advantus Capital Management Inc now owns 11,993 shares of the Wireless communications provider’s stock worth $318,000 after acquiring an additional 376 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Telephone and Data Systems by 11.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,795 shares of the Wireless communications provider’s stock worth $105,000 after acquiring an additional 387 shares during the last quarter. Finally, Utah Retirement Systems lifted its holdings in shares of Telephone and Data Systems by 2.3% in the second quarter. Utah Retirement Systems now owns 17,676 shares of the Wireless communications provider’s stock worth $491,000 after acquiring an additional 400 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems, Inc. (TDS) opened at 27.77 on Monday. The stock has a 50 day moving average price of $28.49 and a 200 day moving average price of $27.57. Telephone and Data Systems, Inc. has a 1-year low of $24.12 and a 1-year high of $32.98. The firm has a market cap of $3.07 billion, a P/E ratio of 56.79 and a beta of 1.04.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, August 4th. The Wireless communications provider reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.04). The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.27 billion. Telephone and Data Systems had a net margin of 1.09% and a return on equity of 1.15%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. On average, analysts anticipate that Telephone and Data Systems, Inc. will post $0.45 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.155 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.62 dividend on an annualized basis and a yield of 2.23%. Telephone and Data Systems’s payout ratio is 129.17%.

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A number of research firms have recently commented on TDS. Zacks Investment Research raised shares of Telephone and Data Systems from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, August 8th. BidaskClub raised Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.00.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc is a diversified telecommunications company. The Company is engaged in conducting its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular), as well as providing its wireline services, cable services, and hosted and managed services (HMS), through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).

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

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