Advisors Asset Management Inc. Has $9.77 Million Stock Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Advisors Asset Management Inc. lessened its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 11.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 609,527 shares of the Wireless communications provider’s stock after selling 80,407 shares during the quarter. Advisors Asset Management Inc.’s holdings in Telephone and Data Systems were worth $9,765,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Telephone and Data Systems by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,569,591 shares of the Wireless communications provider’s stock worth $201,365,000 after purchasing an additional 320,976 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 774,892 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Telephone and Data Systems by 1.6% in 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 acquiring an additional 20,516 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in Telephone and Data Systems by 7.7% in the 1st quarter. Jupiter Asset Management Ltd. now owns 756,160 shares of the Wireless communications provider’s stock valued at $12,114,000 after acquiring an additional 54,115 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in Telephone and Data Systems by 5.3% in the 4th quarter. Panagora Asset Management Inc. now owns 607,498 shares of the Wireless communications provider’s stock valued at $11,148,000 after acquiring an additional 30,846 shares in the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.

Telephone and Data Systems Price Performance

NYSE TDS traded up $0.46 during trading hours on Friday, reaching $20.95. 870,891 shares of the company’s stock were exchanged, compared to its average volume of 1,144,433. The stock has a market cap of $2.37 billion, a PE ratio of -4.22 and a beta of 0.84. Telephone and Data Systems, Inc. has a one year low of $7.64 and a one year high of $23.35. The firm has a fifty day moving average of $20.31 and a 200-day moving average of $17.99. The company has a current ratio of 1.58, a quick ratio of 1.40 and a debt-to-equity ratio of 0.84.

Telephone and Data Systems (NYSE:TDS) last posted its quarterly earnings data on Friday, May 3rd. The Wireless communications provider reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.15. Telephone and Data Systems had a positive return on equity of 0.62% and a negative net margin of 9.36%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the business earned ($0.08) EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts predict that Telephone and Data Systems, Inc. will post -0.33 earnings per share for the current fiscal year.

Telephone and Data Systems Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, June 14th. Telephone and Data Systems’s dividend payout ratio is -3.29%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. JPMorgan Chase & Co. cut their price target on 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. StockNews.com upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 6th.

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.