Congress Asset Management Co. MA decreased its position in shares of Telephone & Data Systems, Inc. (NYSE:TDS) by 9.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,868 shares of the Wireless communications provider’s stock after selling 5,920 shares during the period. Congress Asset Management Co. MA owned about 0.05% of Telephone & Data Systems worth $1,519,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Krane Funds Advisors LLC acquired a new position in Telephone & Data Systems during the 2nd quarter worth about $26,000. Resources Investment Advisors LLC. acquired a new stake in Telephone & Data Systems in the second quarter worth approximately $46,000. Doyle Wealth Management acquired a new stake in Telephone & Data Systems in the second quarter worth approximately $79,000. Steward Partners Investment Advisory LLC acquired a new stake in Telephone & Data Systems in the second quarter worth approximately $99,000. Finally, Atria Investments LLC acquired a new stake in Telephone & Data Systems in the second quarter worth approximately $146,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TDS traded down $0.73 during mid-day trading on Friday, reaching $23.62. The company’s stock had a trading volume of 5,590 shares, compared to its average volume of 1,077,561. The business has a fifty day moving average of $25.24 and a 200 day moving average of $28.47. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 20.16 and a beta of 1.06. Telephone & Data Systems, Inc. has a 1 year low of $21.44 and a 1 year high of $37.29. The company has a quick ratio of 2.10, a current ratio of 2.24 and a debt-to-equity ratio of 0.62.
Telephone & Data Systems (NYSE:TDS) last posted its quarterly earnings results on Thursday, October 31st. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.08). Telephone & Data Systems had a return on equity of 2.35% and a net margin of 2.44%. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the company posted $0.41 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that Telephone & Data Systems, Inc. will post 1.09 earnings per share for the current year.
A number of equities research analysts have weighed in on the company. Raymond James upgraded Telephone & Data Systems from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $35.00 to $32.00 in a research report on Monday. TheStreet downgraded Telephone & Data Systems from a “b-” rating to a “c+” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upgraded Telephone & Data Systems from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Monday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Telephone & Data Systems currently has a consensus rating of “Buy” and an average target price of $35.38.
In other Telephone & Data Systems news, Director Prudence E. Carlson sold 3,510 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $24.96, for a total transaction of $87,609.60. Following the transaction, the director now directly owns 54,722 shares of the company’s stock, valued at $1,365,861.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wade Oosterman bought 5,000 shares of the stock in a transaction on Monday, August 19th. The shares were acquired at an average cost of $24.88 per share, for a total transaction of $124,400.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $124,400. The disclosure for this purchase can be found here. Corporate insiders own 14.33% of the company’s stock.
About Telephone & Data Systems
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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