Bank of New York Mellon Corp reduced its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,704,563 shares of the Wireless communications provider’s stock after selling 47,256 shares during the period. Bank of New York Mellon Corp owned 1.54% of Telephone and Data Systems worth $47,540,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TDS. LS Investment Advisors LLC boosted its holdings in shares of Telephone and Data Systems by 20.0% during the 2nd quarter. LS Investment Advisors LLC now owns 7,451 shares of the Wireless communications provider’s stock worth $207,000 after buying an additional 1,242 shares during the period. Aperio Group LLC raised its stake in Telephone and Data Systems by 16.6% during the 2nd quarter. Aperio Group LLC now owns 53,552 shares of the Wireless communications provider’s stock valued at $1,486,000 after purchasing an additional 7,605 shares during the last quarter. State Treasurer State of Michigan raised its stake in Telephone and Data Systems by 1.6% during the 2nd quarter. State Treasurer State of Michigan now owns 38,636 shares of the Wireless communications provider’s stock valued at $1,072,000 after purchasing an additional 600 shares during the last quarter. US Bancorp DE raised its stake in Telephone and Data Systems by 4.8% during the 2nd quarter. US Bancorp DE now owns 9,337 shares of the Wireless communications provider’s stock valued at $259,000 after purchasing an additional 429 shares during the last quarter. Finally, ING Groep NV acquired a new position in Telephone and Data Systems during the 2nd quarter valued at $317,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently commented on TDS shares. Zacks Investment Research upgraded 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 research note on Tuesday, August 8th. Drexel Hamilton upgraded shares of Telephone and Data Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $29.00.

Shares of Telephone and Data Systems, Inc. (NYSE TDS) traded up $0.28 during mid-day trading on Tuesday, hitting $27.60. 514,000 shares of the stock were exchanged, compared to its average volume of 685,016. Telephone and Data Systems, Inc. has a 52 week low of $24.57 and a 52 week high of $32.97. The firm has a market cap of $3,032.52, a PE ratio of 60.71 and a beta of 0.98. The company has a current ratio of 2.42, a quick ratio of 2.29 and a debt-to-equity ratio of 0.54.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Wednesday, November 8th. The Wireless communications provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Telephone and Data Systems had a negative net margin of 2.77% and a positive return on equity of 1.08%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company posted $0.11 EPS. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. research analysts forecast that Telephone and Data Systems, Inc. will post -1.27 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Thursday, December 14th. Telephone and Data Systems’s dividend payout ratio is -48.82%.

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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).

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

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