33,100 Telephone and Data Systems, Inc. $TDS Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 58.4% in the third quarter, Holdings Channel reports. The institutional investor owned 89,800 shares of the Wireless communications provider’s stock after acquiring an additional 33,100 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Telephone and Data Systems were worth $3,046,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Knighthead Capital Management LLC acquired a new position in Telephone and Data Systems during the 1st quarter worth $18,764,000. Carronade Capital Management LP increased its position in shares of Telephone and Data Systems by 10.0% in the 1st quarter. Carronade Capital Management LP now owns 4,623,934 shares of the Wireless communications provider’s stock worth $194,668,000 after purchasing an additional 420,340 shares during the last quarter. Three Seasons Wealth LLC bought a new stake in shares of Telephone and Data Systems in the 2nd quarter worth about $1,433,000. Rokos Capital Management LLP bought a new stake in shares of Telephone and Data Systems in the 1st quarter worth about $21,040,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Telephone and Data Systems by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,482,147 shares of the Wireless communications provider’s stock valued at $272,898,000 after purchasing an additional 90,097 shares in the last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on TDS shares. Zacks Research cut shares of Telephone and Data Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Citigroup lowered their price objective on Telephone and Data Systems from $50.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Weiss Ratings lowered Telephone and Data Systems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, JPMorgan Chase & Co. cut their price objective on Telephone and Data Systems from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.50.

Telephone and Data Systems Stock Up 5.3%

Telephone and Data Systems stock opened at $36.11 on Tuesday. The company has a 50-day simple moving average of $35.25 and a 200-day simple moving average of $39.55. The firm has a market capitalization of $4.16 billion, a P/E ratio of 12.04 and a beta of 0.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.81 and a current ratio of 3.82. Telephone and Data Systems, Inc. has a one year low of $30.71 and a one year high of $49.12.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings results on Friday, August 7th. The Wireless communications provider reported $2.24 EPS for the quarter, beating the consensus estimate of $0.09 by $2.15. Telephone and Data Systems had a net margin of 33.20% and a return on equity of 11.97%. The company had revenue of $309.28 million for the quarter, compared to analyst estimates of $315.78 million. During the same quarter last year, the business earned ($0.05) earnings per share. Telephone and Data Systems’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts expect that Telephone and Data Systems, Inc. will post -0.24 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, September 15th. 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 currently 5.33%.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc (NYSE:TDS) is a telecommunications holding company that provides broadband and communications services in communities across the United States. Its principal operating business is TDS Telecom, which serves residential, business and wholesale customers with internet access, fiber-optic and other broadband connections, voice services, video entertainment and related communications solutions.

TDS Telecom focuses on expanding high-speed broadband availability in rural and suburban markets.