Bank of New York Mellon Corp Increases Stock Position in Telephone and Data Systems, Inc. $TDS

Bank of New York Mellon Corp boosted its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 1.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 885,638 shares of the Wireless communications provider’s stock after buying an additional 9,854 shares during the period. Bank of New York Mellon Corp’s holdings in Telephone and Data Systems were worth $31,511,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TDS. Integrity Alliance LLC. purchased a new position in shares of Telephone and Data Systems in the first quarter worth $336,000. First Citizens Bank & Trust Co. increased its holdings in Telephone and Data Systems by 198.0% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 23,116 shares of the Wireless communications provider’s stock worth $822,000 after buying an additional 15,360 shares in the last quarter. Victory Capital Management Inc. raised its position in Telephone and Data Systems by 150.4% in the 1st quarter. Victory Capital Management Inc. now owns 90,154 shares of the Wireless communications provider’s stock worth $3,493,000 after buying an additional 54,143 shares during the last quarter. Millennium Management LLC lifted its stake in Telephone and Data Systems by 19.4% during the 1st quarter. Millennium Management LLC now owns 801,784 shares of the Wireless communications provider’s stock valued at $31,061,000 after acquiring an additional 130,282 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Telephone and Data Systems during the 1st quarter valued at about $1,116,000. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Telephone and Data Systems Price Performance

Shares of Telephone and Data Systems stock opened at $38.59 on Friday. The stock has a market cap of $4.44 billion, a P/E ratio of -39.79 and a beta of 0.35. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.65 and a current ratio of 1.78. The stock’s fifty day moving average is $38.70 and its 200 day moving average is $37.31. Telephone and Data Systems, Inc. has a one year low of $30.38 and a one year high of $42.74.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Friday, November 7th. The Wireless communications provider reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.13. Telephone and Data Systems had a positive return on equity of 0.92% and a negative net margin of 0.85%.The business had revenue of $308.52 million during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company posted ($0.73) earnings per share. Telephone and Data Systems’s revenue for the quarter was down 5.8% on a year-over-year basis. Sell-side analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Insider Buying and Selling

In other Telephone and Data Systems news, CFO Vicki L. Villacrez sold 26,334 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $39.02, for a total value of $1,027,552.68. Following the completion of the transaction, the chief financial officer directly owned 454 shares in the company, valued at $17,715.08. This represents a 98.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Anita J. Kroll sold 16,217 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $39.02, for a total transaction of $632,787.34. Following the completion of the sale, the chief accounting officer directly owned 870 shares of the company’s stock, valued at approximately $33,947.40. This trade represents a 94.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 125,240 shares of company stock valued at $4,826,141. Insiders own 14.48% of the company’s stock.

Analysts Set New Price Targets

TDS has been the subject of several research reports. Weiss Ratings raised shares of Telephone and Data Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of Telephone and Data Systems from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Telephone and Data Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Wall Street Zen upgraded Telephone and Data Systems from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Finally, Raymond James Financial lifted their price objective on Telephone and Data Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $52.00.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.