Comerica Bank Decreases Stake in Telephone & Data Systems, Inc. (TDS)

Comerica Bank decreased its stake in Telephone & Data Systems, Inc. (NYSE:TDS) by 16.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,235 shares of the Wireless communications provider’s stock after selling 11,750 shares during the period. Comerica Bank owned 0.05% of Telephone & Data Systems worth $1,989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its stake in shares of Telephone & Data Systems by 5.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 205,420 shares of the Wireless communications provider’s stock worth $6,251,000 after buying an additional 9,700 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Telephone & Data Systems by 39.7% in the 3rd quarter. Acadian Asset Management LLC now owns 1,268,191 shares of the Wireless communications provider’s stock worth $38,593,000 after buying an additional 360,121 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Telephone & Data Systems in the 3rd quarter worth $943,000. Congress Asset Management Co. MA raised its stake in shares of Telephone & Data Systems by 11.5% in the 3rd quarter. Congress Asset Management Co. MA now owns 24,103 shares of the Wireless communications provider’s stock worth $733,000 after buying an additional 2,495 shares in the last quarter. Finally, W.E. Donoghue & Co. LLC raised its stake in shares of Telephone & Data Systems by 76.1% in the 3rd quarter. W.E. Donoghue & Co. LLC now owns 32,230 shares of the Wireless communications provider’s stock worth $981,000 after buying an additional 13,924 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Peter L. Sereda sold 10,998 shares of Telephone & Data Systems stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $35.31, for a total transaction of $388,339.38. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Douglas W. Chambers sold 16,400 shares of Telephone & Data Systems stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $30.59, for a total value of $501,676.00. Following the transaction, the vice president now owns 12,473 shares in the company, valued at approximately $381,549.07. The disclosure for this sale can be found here. Insiders sold a total of 189,645 shares of company stock worth $6,634,347 over the last 90 days. Insiders own 17.30% of the company’s stock.

Shares of NYSE TDS opened at $35.45 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.65 and a current ratio of 2.80. The firm has a market capitalization of $4.00 billion, a P/E ratio of 66.89 and a beta of 0.70. Telephone & Data Systems, Inc. has a 52-week low of $23.54 and a 52-week high of $36.04.

Telephone & Data Systems (NYSE:TDS) last issued its earnings results on Friday, November 2nd. The Wireless communications provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.16. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Telephone & Data Systems had a return on equity of 2.43% and a net margin of 7.96%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. As a group, research analysts expect that Telephone & Data Systems, Inc. will post 1.18 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Thursday, December 13th. Telephone & Data Systems’s payout ratio is 120.75%.

A number of research firms have recently commented on TDS. B. Riley set a $42.00 price objective on Telephone & Data Systems and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Raymond James lifted their target price on Telephone & Data Systems from $31.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, November 6th. Citigroup lifted their target price on Telephone & Data Systems from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research upgraded Telephone & Data Systems from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, October 10th. Finally, ValuEngine upgraded Telephone & Data Systems from a “hold” rating to a “buy” rating in a report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $37.20.

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Telephone & Data Systems Profile

Telephone and Data Systems, Inc, a telecommunications company, provides wireless, wireline, cable, and hosted and managed services in the United States. The company offers cellular services, such as postpaid national plans and prepaid service plans with voice, messaging, and data usage options; and business rate plans.

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Institutional Ownership by Quarter for Telephone & Data Systems (NYSE:TDS)

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