43,600 Shares in Telephone and Data Systems, Inc. $TDS Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in Telephone and Data Systems, Inc. (NYSE:TDS) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 43,600 shares of the Wireless communications provider’s stock, valued at approximately $1,836,000.

Several other hedge funds have also modified their holdings of the company. Hsbc Holdings PLC boosted its stake in Telephone and Data Systems by 198.9% in the fourth quarter. Hsbc Holdings PLC now owns 23,315 shares of the Wireless communications provider’s stock valued at $956,000 after acquiring an additional 15,516 shares in the last quarter. Sentinel Dome Partners LLC purchased a new stake in shares of Telephone and Data Systems during the 4th quarter valued at $4,920,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Telephone and Data Systems by 2,779.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,123 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 1,084 shares in the last quarter. Mariner Investment Group LLC purchased a new position in Telephone and Data Systems during the 4th quarter worth $205,000. Finally, Invesco Ltd. increased its position in Telephone and Data Systems by 5.3% during the 4th quarter. Invesco Ltd. now owns 1,249,344 shares of the Wireless communications provider’s stock valued at $51,223,000 after buying an additional 62,688 shares in the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on TDS. Raymond James Financial cut shares of Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a report on Monday, May 11th. Weiss Ratings cut shares of Telephone and Data Systems from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Finally, Wall Street Zen upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.33.

Telephone and Data Systems Price Performance

TDS stock opened at $37.04 on Wednesday. The business has a fifty day moving average of $41.18 and a two-hundred day moving average of $42.64. The company has a quick ratio of 3.42, a current ratio of 3.43 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 69.88 and a beta of 0.28. Telephone and Data Systems, Inc. has a 52-week low of $34.94 and a 52-week high of $49.12.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $1.11 EPS for the quarter, beating the consensus estimate of ($0.87) by $1.98. The business had revenue of $309.45 million for the quarter, compared to analyst estimates of $313.27 million. Telephone and Data Systems had a return on equity of 5.54% and a net margin of 6.15%.The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) EPS. As a group, research analysts anticipate that Telephone and Data Systems, Inc. will post 0.94 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Telephone and Data Systems’s dividend payout ratio is presently 30.19%.

About Telephone and Data Systems

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.