Chicago Equity Partners LLC Decreases Stake in Telephone & Data Systems, Inc. (NYSE:TDS)

Chicago Equity Partners LLC cut its holdings in shares of Telephone & Data Systems, Inc. (NYSE:TDS) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,110 shares of the Wireless communications provider’s stock after selling 1,390 shares during the quarter. Chicago Equity Partners LLC’s holdings in Telephone & Data Systems were worth $1,706,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Municipal Employees Retirement System of Michigan increased its position in shares of Telephone & Data Systems by 2.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,330 shares of the Wireless communications provider’s stock valued at $527,000 after purchasing an additional 380 shares during the last quarter. MetLife Investment Advisors LLC grew its stake in shares of Telephone & Data Systems by 0.8% during the 1st quarter. MetLife Investment Advisors LLC now owns 57,157 shares of the Wireless communications provider’s stock worth $1,756,000 after acquiring an additional 468 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Telephone & Data Systems by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 37,666 shares of the Wireless communications provider’s stock worth $1,145,000 after acquiring an additional 536 shares during the period. Arizona State Retirement System grew its stake in shares of Telephone & Data Systems by 0.9% during the 1st quarter. Arizona State Retirement System now owns 67,321 shares of the Wireless communications provider’s stock worth $2,069,000 after acquiring an additional 603 shares during the period. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of Telephone & Data Systems by 6.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 15,727 shares of the Wireless communications provider’s stock worth $483,000 after acquiring an additional 916 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

In other Telephone & Data Systems news, Director Prudence E. Carlson sold 3,510 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $24.96, for a total value of $87,609.60. Following the sale, the director now owns 54,722 shares of the company’s stock, valued at approximately $1,365,861.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wade Oosterman purchased 5,000 shares of the stock in a transaction on Monday, August 19th. The stock was acquired at an average cost of $24.88 per share, for a total transaction of $124,400.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $124,400. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 45,236 shares of company stock valued at $1,464,435. 14.33% of the stock is owned by corporate insiders.

Several research analysts have recently weighed in on TDS shares. Morgan Stanley upgraded Telephone & Data Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $33.00 to $47.50 in a research note on Tuesday, June 18th. ValuEngine downgraded Telephone & Data Systems from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. TheStreet downgraded Telephone & Data Systems from a “b-” rating to a “c+” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. upgraded Telephone & Data Systems from an “underweight” rating to a “neutral” rating and cut their price target for the stock from $32.00 to $31.00 in a research note on Monday, August 5th. Finally, Zacks Investment Research upgraded Telephone & Data Systems from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $37.70.

Shares of NYSE TDS opened at $26.86 on Friday. Telephone & Data Systems, Inc. has a 52 week low of $24.11 and a 52 week high of $37.29. The business has a 50-day simple moving average of $26.67 and a two-hundred day simple moving average of $30.21. The company has a quick ratio of 2.24, a current ratio of 2.41 and a debt-to-equity ratio of 0.62. The company has a market cap of $3.09 billion, a P/E ratio of 22.96 and a beta of 1.10.

Telephone & Data Systems (NYSE:TDS) last issued its earnings results on Thursday, August 1st. The Wireless communications provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). Telephone & Data Systems had a return on equity of 2.89% and a net margin of 2.99%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the business earned $0.29 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts anticipate that Telephone & Data Systems, Inc. will post 1.13 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.66 annualized dividend and a yield of 2.46%. Telephone & Data Systems’s dividend payout ratio is currently 56.41%.

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.

Featured Story: Trading based on a resistance level

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

Receive News & Ratings for Telephone & Data Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telephone & Data Systems and related companies with MarketBeat.com's FREE daily email newsletter.