Ellington Management Group LLC purchased a new stake in shares of Telephone & Data Systems, Inc. (NYSE:TDS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,300 shares of the Wireless communications provider’s stock, valued at approximately $509,000.
Other institutional investors have also recently made changes to their positions in the company. KBC Group NV purchased a new stake in shares of Telephone & Data Systems in the third quarter worth approximately $1,050,000. Aperio Group LLC grew its stake in Telephone & Data Systems by 20.5% in the third quarter. Aperio Group LLC now owns 64,555 shares of the Wireless communications provider’s stock worth $1,800,000 after purchasing an additional 11,003 shares in the last quarter. Commonwealth Bank of Australia boosted its position in Telephone & Data Systems by 19.2% during the 3rd quarter. Commonwealth Bank of Australia now owns 34,700 shares of the Wireless communications provider’s stock valued at $965,000 after acquiring an additional 5,600 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in Telephone & Data Systems during the 3rd quarter valued at $465,000. Finally, New Mexico Educational Retirement Board bought a new stake in Telephone & Data Systems during the 4th quarter valued at $631,000. 82.33% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on TDS shares. TheStreet raised Telephone & Data Systems from a “c+” rating to a “b-” rating in a research report on Friday, March 23rd. Zacks Investment Research upgraded Telephone & Data Systems from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, February 28th. Finally, ValuEngine upgraded Telephone & Data Systems from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $30.00.
In other news, insider Scott H. Williamson sold 28,714 shares of the stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $27.92, for a total transaction of $801,694.88. Following the completion of the sale, the insider now owns 18,353 shares in the company, valued at $512,415.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Wittwer sold 285,704 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $27.20, for a total transaction of $7,771,148.80. Following the sale, the director now owns 117,710 shares of the company’s stock, valued at approximately $3,201,712. The disclosure for this sale can be found here. 17.30% of the stock is currently owned by corporate insiders.
Shares of Telephone & Data Systems stock opened at $28.15 on Friday. The company has a market cap of $3,111.33, a PE ratio of 53.11, a P/E/G ratio of 5.94 and a beta of 0.81. Telephone & Data Systems, Inc. has a 1-year low of $23.54 and a 1-year high of $29.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.98 and a current ratio of 2.14.
Telephone & Data Systems (NYSE:TDS) last released its quarterly earnings results on Friday, February 23rd. The Wireless communications provider reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.07. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. Telephone & Data Systems had a net margin of 3.03% and a return on equity of 1.30%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) EPS. analysts expect that Telephone & Data Systems, Inc. will post 0.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Friday, March 16th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, March 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from Telephone & Data Systems’s previous quarterly dividend of $0.16. Telephone & Data Systems’s dividend payout ratio is currently 120.75%.
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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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