PNC Financial Services Group Inc. Increases Holdings in Telephone & Data Systems, Inc. (NYSE:TDS)

PNC Financial Services Group Inc. raised its stake in Telephone & Data Systems, Inc. (NYSE:TDS) by 1,052.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,970 shares of the Wireless communications provider’s stock after buying an additional 58,417 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Telephone & Data Systems were worth $1,966,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its position in shares of Telephone & Data Systems by 3,122.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,181,853 shares of the Wireless communications provider’s stock worth $36,000 after purchasing an additional 1,145,175 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Telephone & Data Systems by 30.8% in the fourth quarter. Macquarie Group Ltd. now owns 1,700 shares of the Wireless communications provider’s stock worth $55,000 after purchasing an additional 400 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Telephone & Data Systems by 944.9% in the first quarter. Quadrant Capital Group LLC now owns 2,351 shares of the Wireless communications provider’s stock worth $69,000 after purchasing an additional 2,126 shares in the last quarter. Fort L.P. lifted its position in shares of Telephone & Data Systems by 188.8% in the fourth quarter. Fort L.P. now owns 2,238 shares of the Wireless communications provider’s stock worth $73,000 after purchasing an additional 1,463 shares in the last quarter. Finally, Doyle Wealth Management bought a new stake in shares of Telephone & Data Systems in the fourth quarter worth $84,000. 80.91% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Clarence A. Davis sold 2,410 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $30.18, for a total transaction of $72,733.80. Following the transaction, the director now directly owns 9,500 shares in the company, valued at $286,710. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Joseph R. Hanley sold 15,867 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $31.42, for a total transaction of $498,541.14. Following the completion of the transaction, the senior vice president now owns 13,768 shares in the company, valued at $432,590.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,277 shares of company stock worth $1,990,275. 14.33% of the stock is owned by corporate insiders.

A number of analysts have recently commented on TDS shares. ValuEngine raised shares of Telephone & Data Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research lowered shares of Telephone & Data Systems from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, TheStreet lowered shares of Telephone & Data Systems from a “b-” rating to a “c+” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Telephone & Data Systems currently has a consensus rating of “Hold” and an average target price of $38.20.

Shares of TDS opened at $29.31 on Friday. The firm has a market cap of $3.39 billion, a P/E ratio of 22.35 and a beta of 1.03. Telephone & Data Systems, Inc. has a 1-year low of $24.00 and a 1-year high of $37.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.42.

Telephone & Data Systems (NYSE:TDS) last issued its earnings results on Thursday, May 2nd. The Wireless communications provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.14. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.27 billion. Telephone & Data Systems had a net margin of 3.00% and a return on equity of 2.92%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 earnings per share. On average, analysts predict that Telephone & Data Systems, Inc. will post 1.03 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.66 dividend on an annualized basis and a yield of 2.25%. Telephone & Data Systems’s payout ratio is 56.41%.

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Telephone & Data Systems Company Profile

Telephone and Data Systems, Inc, a telecommunications company, provides wireless, cable and wireline broadband, TV, voice, and hosted and managed services in the United States. It operates through three segments: U.S. Cellular, Wireline, and Cable. The company offers cellular services to postpaid and prepaid customers, including retail consumers, government entities, and small-to-mid-size business customers in industries, such as the construction, retail, agriculture, professional services, and real estate; and national plans with voice, messaging, and data usage options.

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

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