Geode Capital Management LLC Boosts Stake in Telephone and Data Systems, Inc. $TDS

Geode Capital Management LLC increased its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,415,553 shares of the Wireless communications provider’s stock after buying an additional 66,814 shares during the period. Geode Capital Management LLC owned about 2.10% of Telephone and Data Systems worth $99,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Royce & Associates LP acquired a new stake in Telephone and Data Systems in the 4th quarter valued at $4,284,000. New Age Alpha Advisors LLC grew its stake in Telephone and Data Systems by 1,166.7% in the 4th quarter. New Age Alpha Advisors LLC now owns 15,454 shares of the Wireless communications provider’s stock valued at $634,000 after acquiring an additional 14,234 shares during the period. ProShare Advisors LLC grew its stake in Telephone and Data Systems by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 19,345 shares of the Wireless communications provider’s stock valued at $793,000 after acquiring an additional 608 shares during the period. HighTower Advisors LLC grew its stake in Telephone and Data Systems by 4.3% in the 4th quarter. HighTower Advisors LLC now owns 5,866 shares of the Wireless communications provider’s stock valued at $241,000 after acquiring an additional 240 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Telephone and Data Systems by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,522 shares of the Wireless communications provider’s stock worth $923,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. Wall Street Zen upgraded shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Citigroup upped their price target on shares of Telephone and Data Systems from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Finally, Raymond James Financial downgraded shares of Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $53.33.

Telephone and Data Systems Stock Down 1.2%

Shares of NYSE TDS opened at $39.18 on Friday. Telephone and Data Systems, Inc. has a 12-month low of $32.60 and a 12-month high of $49.12. The stock has a market cap of $4.46 billion, a PE ratio of 73.92 and a beta of 0.28. The company has a current ratio of 3.43, a quick ratio of 3.42 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $43.08 and a 200 day moving average of $42.59.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $1.98. Telephone and Data Systems had a net margin of 6.15% and a return on equity of 5.54%. The company had revenue of $309.45 million during the quarter, compared to analysts’ expectations of $313.28 million. During the same quarter in the prior year, the company earned ($0.09) EPS. Telephone and Data Systems’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that Telephone and Data Systems, Inc. will post 0.94 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, June 16th. Telephone and Data Systems’s dividend payout ratio is currently 30.19%.

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.