Bank of New York Mellon Corp Sells 31,577 Shares of Telephone and Data Systems, Inc. $TDS

Bank of New York Mellon Corp cut its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 3.7% during the 1st quarter, HoldingsChannel reports. The fund owned 826,873 shares of the Wireless communications provider’s stock after selling 31,577 shares during the quarter. Bank of New York Mellon Corp’s holdings in Telephone and Data Systems were worth $34,811,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Salomon & Ludwin LLC boosted its stake in shares of Telephone and Data Systems by 51.3% in the 4th quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock valued at $28,000 after purchasing an additional 231 shares in the last quarter. JPL Wealth Management LLC bought a new stake in Telephone and Data Systems in the third quarter worth $33,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Telephone and Data Systems by 2,779.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,123 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 1,084 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Telephone and Data Systems by 191.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the Wireless communications provider’s stock worth $47,000 after buying an additional 861 shares during the period. Finally, Ameliora Wealth Management Ltd. bought a new stake in shares of Telephone and Data Systems in the 1st quarter valued at about $90,000. 80.00% of the stock is currently owned by institutional investors.

Telephone and Data Systems Stock Down 0.1%

Shares of NYSE:TDS opened at $34.33 on Monday. The stock’s 50-day moving average is $37.70 and its 200 day moving average is $42.00. The company has a market cap of $3.91 billion, a PE ratio of 64.77 and a beta of 0.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.43 and a quick ratio of 3.42. Telephone and Data Systems, Inc. has a 1 year low of $33.01 and a 1 year high of $49.12.

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

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $0.04 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.16 annualized dividend and a yield of 0.5%. Telephone and Data Systems’s payout ratio is 30.19%.

Analysts Set New Price Targets

TDS has been the subject of several analyst reports. Weiss Ratings cut Telephone and Data Systems from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Raymond James Financial cut Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. 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 company’s stock. According to MarketBeat, Telephone and Data Systems presently has an average rating of “Hold” and an average price target of $53.33.

Telephone and Data Systems Company Profile

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.