Inspire Investing LLC Lowers Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Inspire Investing LLC lowered its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 24.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 58,805 shares of the Wireless communications provider’s stock after selling 18,890 shares during the period. Inspire Investing LLC’s holdings in Telephone and Data Systems were worth $1,219,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TDS. Victory Capital Management Inc. raised its position in Telephone and Data Systems by 20.3% during the fourth quarter. Victory Capital Management Inc. now owns 21,843 shares of the Wireless communications provider’s stock valued at $401,000 after acquiring an additional 3,691 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Telephone and Data Systems by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,328,067 shares of the Wireless communications provider’s stock valued at $24,370,000 after purchasing an additional 20,516 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Telephone and Data Systems during the 4th quarter valued at approximately $25,000. Dimensional Fund Advisors LP lifted its stake in shares of Telephone and Data Systems by 19.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,785,251 shares of the Wireless communications provider’s stock valued at $87,810,000 after purchasing an additional 774,892 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in Telephone and Data Systems by 14.0% during the fourth quarter. Quadrant Capital Group LLC now owns 5,062 shares of the Wireless communications provider’s stock worth $93,000 after buying an additional 622 shares in the last quarter. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut their price objective on shares of Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th.

Telephone and Data Systems Stock Performance

NYSE TDS opened at $23.50 on Friday. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -4.83 and a beta of 0.81. The stock has a 50-day moving average of $21.80 and a 200 day moving average of $19.21. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 0.84. Telephone and Data Systems, Inc. has a twelve month low of $13.69 and a twelve month high of $24.92.

Telephone and Data Systems (NYSE:TDS) last announced its earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the company posted ($0.17) EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts anticipate that Telephone and Data Systems, Inc. will post -0.43 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.68%. The ex-dividend date is Monday, September 16th. Telephone and Data Systems’s payout ratio is -3.29%.

About Telephone and Data Systems

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.