Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,371 shares of the Wireless communications provider’s stock after selling 1,151 shares during the period. Maryland State Retirement & Pension System’s holdings in Telephone and Data Systems were worth $713,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in shares of Telephone and Data Systems in the second quarter valued at about $217,000. Panagora Asset Management Inc. raised its position in Telephone and Data Systems by 4.6% during the second quarter. Panagora Asset Management Inc. now owns 627,658 shares of the Wireless communications provider’s stock worth $13,011,000 after acquiring an additional 27,736 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Telephone and Data Systems during the second quarter worth about $2,369,000. Louisiana State Employees Retirement System raised its position in Telephone and Data Systems by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 49,600 shares of the Wireless communications provider’s stock worth $1,028,000 after acquiring an additional 800 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Telephone and Data Systems during the second quarter worth about $88,000. Institutional investors and hedge funds own 80.00% of the company’s stock.

Telephone and Data Systems Stock Performance

NYSE:TDS opened at $23.62 on Monday. Telephone and Data Systems, Inc. has a twelve month low of $13.69 and a twelve month high of $24.04. The company has a 50-day moving average of $20.93 and a 200-day moving average of $18.44. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -4.85 and a beta of 0.84. 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 (NYSE:TDS) last issued its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). Telephone and Data Systems had a negative net margin of 9.31% and a positive return on equity of 0.73%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts forecast that Telephone and Data Systems, Inc. will post -0.38 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th. StockNews.com upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 6th.

Telephone and Data Systems 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.