Texas Permanent School Fund Corp Has $4.64 Million Position in Telephone and Data Systems, Inc. $TDS

Texas Permanent School Fund Corp lessened its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 24.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 130,268 shares of the Wireless communications provider’s stock after selling 42,686 shares during the period. Texas Permanent School Fund Corp owned about 0.11% of Telephone and Data Systems worth $4,635,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in shares of Telephone and Data Systems by 53.1% in the 2nd quarter. Assetmark Inc. now owns 1,297 shares of the Wireless communications provider’s stock worth $46,000 after acquiring an additional 450 shares during the period. EverSource Wealth Advisors LLC lifted its position in Telephone and Data Systems by 191.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the Wireless communications provider’s stock worth $47,000 after purchasing an additional 861 shares during the period. Bayforest Capital Ltd boosted its stake in Telephone and Data Systems by 121.8% during the first quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider’s stock worth $52,000 after buying an additional 737 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Telephone and Data Systems by 36.8% during the second quarter. Osaic Holdings Inc. now owns 2,965 shares of the Wireless communications provider’s stock worth $106,000 after buying an additional 797 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in Telephone and Data Systems in the 1st quarter valued at $214,000. 80.00% of the stock is currently owned by institutional investors.

Insider Activity at Telephone and Data Systems

In other news, CAO Anita J. Kroll sold 870 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $39.16, for a total transaction of $34,069.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 14.97% of the company’s stock.

Telephone and Data Systems Price Performance

NYSE:TDS opened at $38.29 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.40 billion, a PE ratio of -35.46 and a beta of 0.31. Telephone and Data Systems, Inc. has a 12 month low of $31.07 and a 12 month high of $42.74. The company’s 50-day moving average price is $38.71 and its two-hundred day moving average price is $37.99.

Telephone and Data Systems (NYSE:TDS) last posted its earnings results on Friday, November 7th. The Wireless communications provider reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.13. The company had revenue of $308.52 million during the quarter, compared to analysts’ expectations of $1.16 billion. Telephone and Data Systems had a negative net margin of 1.46% and a positive return on equity of 1.15%. Telephone and Data Systems’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.73) earnings per share. On average, equities analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Telephone and Data Systems’s payout ratio is currently -14.81%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TDS. Zacks Research upgraded shares of Telephone and Data Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Citigroup initiated coverage on shares of Telephone and Data Systems in a research note on Wednesday, November 26th. They set a “buy” rating and a $45.00 price target for the company. Wall Street Zen lowered Telephone and Data Systems from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Telephone and Data Systems in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Telephone and Data Systems has a consensus rating of “Moderate Buy” and a consensus target price of $49.67.

Telephone and Data Systems Company Profile

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, fixed wireless home internet, 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.