Empowered Funds LLC Trims Stock Position in Telephone and Data Systems, Inc. $TDS

Empowered Funds LLC cut its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 14.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 336,400 shares of the Wireless communications provider’s stock after selling 54,780 shares during the period. Empowered Funds LLC’s holdings in Telephone and Data Systems were worth $11,969,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Assetmark Inc. increased its stake in Telephone and Data Systems by 53.1% during the second quarter. Assetmark Inc. now owns 1,297 shares of the Wireless communications provider’s stock worth $46,000 after acquiring an additional 450 shares during the last quarter. Bayforest Capital Ltd increased its position in shares of Telephone and Data Systems by 121.8% during the 1st quarter. Bayforest Capital Ltd now owns 1,342 shares of the Wireless communications provider’s stock worth $52,000 after purchasing an additional 737 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of Telephone and Data Systems during the 1st quarter worth about $214,000. HB Wealth Management LLC purchased a new stake in Telephone and Data Systems in the 1st quarter valued at about $216,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Telephone and Data Systems in the second quarter valued at about $241,000. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Telephone and Data Systems news, CAO Anita J. Kroll sold 870 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $39.16, for a total transaction of $34,069.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 14.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Telephone and Data Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Weiss Ratings lowered Telephone and Data Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, November 13th. Wall Street Zen cut Telephone and Data Systems from a “hold” rating to a “sell” rating in a research note on Saturday. Raymond James Financial lifted their price objective on Telephone and Data Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Telephone and Data Systems from $53.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Telephone and Data Systems presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Telephone and Data Systems Price Performance

Telephone and Data Systems stock opened at $38.10 on Wednesday. The company has a quick ratio of 1.65, a current ratio of 1.78 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a 52-week low of $30.59 and a 52-week high of $42.74. The firm has a market cap of $4.38 billion, a PE ratio of -39.27 and a beta of 0.35. The company’s 50 day moving average is $38.66 and its two-hundred day moving average is $37.34.

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

Telephone and Data Systems 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.