Spire Wealth Management boosted its stake in Telephone and Data Systems, Inc. (NYSE:TDS – Free Report) by 30.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,792 shares of the Wireless communications provider’s stock after purchasing an additional 2,766 shares during the quarter. Spire Wealth Management’s holdings in Telephone and Data Systems were worth $97,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of TDS. JPMorgan Chase & Co. raised its stake in Telephone and Data Systems by 11.3% during the first quarter. JPMorgan Chase & Co. now owns 254,198 shares of the Wireless communications provider’s stock worth $4,800,000 after acquiring an additional 25,890 shares in the last quarter. Citigroup Inc. increased its stake in shares of Telephone and Data Systems by 5.8% in the first quarter. Citigroup Inc. now owns 98,497 shares of the Wireless communications provider’s stock valued at $1,860,000 after buying an additional 5,396 shares during the period. Natixis Advisors L.P. increased its stake in shares of Telephone and Data Systems by 7.0% in the first quarter. Natixis Advisors L.P. now owns 71,806 shares of the Wireless communications provider’s stock valued at $1,356,000 after buying an additional 4,717 shares during the period. MetLife Investment Management LLC boosted its holdings in Telephone and Data Systems by 53.9% in the first quarter. MetLife Investment Management LLC now owns 53,418 shares of the Wireless communications provider’s stock valued at $1,009,000 after acquiring an additional 18,700 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Telephone and Data Systems by 5.3% during the 1st quarter. Rhumbline Advisers now owns 340,146 shares of the Wireless communications provider’s stock worth $6,422,000 after buying an additional 17,202 shares in the last quarter. Institutional investors and hedge funds own 95.40% of the company’s stock.
Telephone and Data Systems Stock Performance
NYSE TDS opened at $19.69 on Tuesday. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -24.92 and a beta of 0.90. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $18.13 and a 200-day moving average price of $13.36. Telephone and Data Systems, Inc. has a twelve month low of $6.43 and a twelve month high of $21.75.
Analysts Set New Price Targets
A number of research firms recently commented on TDS. StockNews.com raised Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Morgan Stanley lifted their price target on Telephone and Data Systems from $15.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, September 11th. JPMorgan Chase & Co. upgraded Telephone and Data Systems from a “neutral” rating to an “overweight” rating and set a $38.00 price objective on the stock in a research report on Tuesday, August 8th. Finally, Citigroup lifted their price target on Telephone and Data Systems from $16.00 to $23.00 in a research report on Friday, August 18th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.33.
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.
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