First Manhattan Co. reduced its holdings in shares of Telephone & Data Systems, Inc. (NYSE:TDS) by 1.7% in the third quarter, Holdings Channel reports. The institutional investor owned 130,436 shares of the Wireless communications provider’s stock after selling 2,190 shares during the period. First Manhattan Co.’s holdings in Telephone & Data Systems were worth $3,969,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. lifted its position in shares of Telephone & Data Systems by 12.5% during the second quarter. BlackRock Inc. now owns 16,961,259 shares of the Wireless communications provider’s stock valued at $465,075,000 after purchasing an additional 1,878,701 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Telephone & Data Systems by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 8,091,599 shares of the Wireless communications provider’s stock valued at $221,871,000 after purchasing an additional 210,068 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Telephone & Data Systems by 1.8% during the second quarter. Renaissance Technologies LLC now owns 3,308,508 shares of the Wireless communications provider’s stock valued at $90,719,000 after purchasing an additional 57,416 shares in the last quarter. Millennium Management LLC lifted its position in shares of Telephone & Data Systems by 69.6% during the first quarter. Millennium Management LLC now owns 1,502,164 shares of the Wireless communications provider’s stock valued at $42,106,000 after purchasing an additional 616,324 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Telephone & Data Systems by 12.6% during the second quarter. Northern Trust Corp now owns 1,382,258 shares of the Wireless communications provider’s stock valued at $37,901,000 after purchasing an additional 154,175 shares in the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

TDS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered shares of Telephone & Data Systems from a “neutral” rating to an “underweight” rating and set a $34.00 price target on the stock. in a research report on Wednesday, July 11th. Zacks Investment Research lowered shares of Telephone & Data Systems from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. ValuEngine raised shares of Telephone & Data Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. Finally, Citigroup raised their price target on shares of Telephone & Data Systems from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $36.00.

Shares of TDS stock opened at $32.11 on Friday. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 60.58 and a beta of 0.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.75 and a current ratio of 2.96. Telephone & Data Systems, Inc. has a 52 week low of $23.54 and a 52 week high of $32.89.

Telephone & Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, August 3rd. The Wireless communications provider reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion. Telephone & Data Systems had a net margin of 3.53% and a return on equity of 1.98%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Research analysts predict that Telephone & Data Systems, Inc. will post 0.68 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, September 13th. Telephone & Data Systems’s dividend payout ratio is 120.75%.

In other Telephone & Data Systems news, SVP Joseph R. Hanley sold 7,960 shares of Telephone & Data Systems stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $29.50, for a total value of $234,820.00. Following the sale, the senior vice president now owns 13,752 shares of the company’s stock, valued at $405,684. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Douglas W. Chambers sold 4,340 shares of Telephone & Data Systems stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $29.40, for a total transaction of $127,596.00. Following the completion of the sale, the chief accounting officer now directly owns 10,545 shares in the company, valued at approximately $310,023. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,597 shares of company stock worth $6,192,444. Insiders own 17.30% of the company’s stock.

About Telephone & Data Systems

Telephone and Data Systems, Inc, a telecommunications company, provides wireless, wireline, cable, and hosted and managed services in the United States. The company offers cellular services, such as postpaid national plans and prepaid service plans with voice, messaging, and data usage options; and business rate plans.

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

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