Virginia Retirement Systems ET AL Increases Stock Position in Telephone & Data Systems, Inc. (NYSE:TDS)

Virginia Retirement Systems ET AL lifted its holdings in shares of Telephone & Data Systems, Inc. (NYSE:TDS) by 2,272.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 313,200 shares of the Wireless communications provider’s stock after acquiring an additional 300,000 shares during the period. Virginia Retirement Systems ET AL owned 0.27% of Telephone & Data Systems worth $8,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Telephone & Data Systems by 12.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,049 shares of the Wireless communications provider’s stock worth $182,000 after acquiring an additional 786 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Telephone & Data Systems during the third quarter worth approximately $223,000. Cambiar Investors LLC purchased a new position in shares of Telephone & Data Systems during the third quarter worth approximately $2,368,000. Envestnet Asset Management Inc. grew its position in shares of Telephone & Data Systems by 320.4% during the third quarter. Envestnet Asset Management Inc. now owns 128,758 shares of the Wireless communications provider’s stock worth $3,322,000 after acquiring an additional 98,132 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Telephone & Data Systems by 3.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 209,931 shares of the Wireless communications provider’s stock worth $5,416,000 after acquiring an additional 6,557 shares during the last quarter. Institutional investors and hedge funds own 81.88% of the company’s stock.

In other Telephone & Data Systems news, Director Wade Oosterman bought 5,000 shares of Telephone & Data Systems stock in a transaction on Monday, August 19th. The stock was bought at an average price of $24.88 per share, with a total value of $124,400.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at $124,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Prudence E. Carlson sold 3,510 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $24.96, for a total value of $87,609.60. Following the completion of the sale, the director now directly owns 54,722 shares of the company’s stock, valued at approximately $1,365,861.12. The disclosure for this sale can be found here. Company insiders own 14.33% of the company’s stock.

NYSE:TDS traded down $0.42 during midday trading on Thursday, reaching $26.00. The stock had a trading volume of 8,092 shares, compared to its average volume of 731,754. The firm has a fifty day simple moving average of $25.65 and a two-hundred day simple moving average of $29.00. Telephone & Data Systems, Inc. has a 12-month low of $24.01 and a 12-month high of $37.29. The company has a quick ratio of 2.24, a current ratio of 2.41 and a debt-to-equity ratio of 0.62. The stock has a market cap of $3.03 billion, a P/E ratio of 22.21 and a beta of 1.08.

Telephone & Data Systems (NYSE:TDS) last posted its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). Telephone & Data Systems had a net margin of 2.99% and a return on equity of 2.89%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the business earned $0.29 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis. On average, sell-side analysts anticipate that Telephone & Data Systems, Inc. will post 1.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.165 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.66 dividend on an annualized basis and a yield of 2.54%. Telephone & Data Systems’s dividend payout ratio (DPR) is 56.41%.

A number of equities analysts have recently issued reports on TDS shares. TheStreet lowered shares of Telephone & Data Systems from a “b-” rating to a “c+” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upgraded shares of Telephone & Data Systems from an “underweight” rating to a “neutral” rating and lowered their target price for the stock from $32.00 to $31.00 in a research report on Monday, August 5th. ValuEngine lowered shares of Telephone & Data Systems from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, Zacks Investment Research upgraded shares of Telephone & Data Systems from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.70.

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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