Telephone and Data Systems, Inc. (TDS) Stake Decreased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lowered its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,286,456 shares of the Wireless communications provider’s stock after selling 66,278 shares during the period. Pinnacle Associates Ltd. owned about 1.17% of Telephone and Data Systems worth $34,104,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position in shares of Telephone and Data Systems by 2.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,094 shares of the Wireless communications provider’s stock worth $108,000 after buying an additional 84 shares in the last quarter. Bank of Montreal Can raised its position in shares of Telephone and Data Systems by 14.9% in the first quarter. Bank of Montreal Can now owns 8,413 shares of the Wireless communications provider’s stock worth $223,000 after buying an additional 1,091 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of Telephone and Data Systems during the first quarter worth approximately $233,000. Pacer Advisors Inc. raised its position in shares of Telephone and Data Systems by 9.1% in the third quarter. Pacer Advisors Inc. now owns 8,592 shares of the Wireless communications provider’s stock worth $234,000 after buying an additional 720 shares in the last quarter. Finally, Quantitative Investment Management LLC bought a new position in shares of Telephone and Data Systems during the first quarter worth approximately $254,000. 81.15% of the stock is owned by hedge funds and other institutional investors.

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

Telephone and Data Systems, Inc. (NYSE TDS) traded up 0.39% during mid-day trading on Friday, hitting $28.07. 986,773 shares of the stock traded hands. Telephone and Data Systems, Inc. has a one year low of $24.12 and a one year high of $32.98. The stock has a market capitalization of $3.10 billion, a PE ratio of 43.12 and a beta of 1.07. The company has a 50 day moving average price of $27.68 and a 200-day moving average price of $28.19.

Telephone and Data Systems (NYSE:TDS) last announced its earnings results on Friday, May 5th. The Wireless communications provider reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.32. Telephone and Data Systems had a net margin of 1.43% and a return on equity of 1.41%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the business posted $0.07 EPS. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Equities analysts anticipate that Telephone and Data Systems, Inc. will post $0.43 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, June 14th. Telephone and Data Systems’s dividend payout ratio (DPR) is presently 96.88%.

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Several research analysts recently issued reports on TDS shares. Zacks Investment Research lowered shares of Telephone and Data Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, March 8th. Drexel Hamilton cut shares of Telephone and Data Systems from a “buy” rating to a “hold” rating in a research note on Friday, February 24th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Telephone and Data Systems in a research note on Monday, February 27th.

About Telephone and Data Systems

Telephone and Data Systems, Inc is a diversified telecommunications company. The Company is engaged in conducting its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular), as well as providing its wireline services, cable services, and hosted and managed services (HMS), through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).

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