Crossmark Global Holdings Inc. trimmed its position in shares of Telephone & Data Systems, Inc. (NYSE:TDS) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,291 shares of the Wireless communications provider’s stock after selling 504 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Telephone & Data Systems were worth $395,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue grew its position in Telephone & Data Systems by 27.4% during the third quarter. State of Alaska Department of Revenue now owns 17,347 shares of the Wireless communications provider’s stock worth $447,000 after buying an additional 3,727 shares during the period. Atria Investments LLC acquired a new position in Telephone & Data Systems during the second quarter worth about $146,000. Treasurer of the State of North Carolina grew its position in Telephone & Data Systems by 1.0% during the second quarter. Treasurer of the State of North Carolina now owns 49,284 shares of the Wireless communications provider’s stock worth $1,498,000 after buying an additional 490 shares during the period. BlackRock Inc. grew its position in Telephone & Data Systems by 1.9% during the second quarter. BlackRock Inc. now owns 12,172,017 shares of the Wireless communications provider’s stock worth $370,029,000 after buying an additional 227,087 shares during the period. Finally, Natixis grew its position in Telephone & Data Systems by 10.7% during the second quarter. Natixis now owns 533,310 shares of the Wireless communications provider’s stock worth $16,213,000 after buying an additional 51,406 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.
Shares of NYSE TDS traded down $0.51 on Friday, hitting $23.84. The company’s stock had a trading volume of 822,796 shares, compared to its average volume of 813,413. Telephone & Data Systems, Inc. has a 12-month low of $21.44 and a 12-month high of $37.29. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 20.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.24 and a quick ratio of 2.10. The stock has a 50 day moving average of $25.19 and a 200-day moving average of $28.44.
Telephone & Data Systems (NYSE:TDS) last announced its quarterly earnings results on Thursday, October 31st. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.08). Telephone & Data Systems had a net margin of 2.44% and a return on equity of 2.35%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts expect that Telephone & Data Systems, Inc. will post 1.09 EPS for the current fiscal year.
Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Telephone & Data Systems from a “neutral” rating to an “overweight” rating and set a $30.00 target price on the stock in a research report on Monday, November 4th. TheStreet downgraded shares of Telephone & Data Systems from a “b-” rating to a “c+” rating in a report on Tuesday, August 20th. Finally, Raymond James raised shares of Telephone & Data Systems from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $35.00 to $32.00 in a report on Monday, November 4th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $35.38.
In related news, Director Wade Oosterman purchased 5,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were bought at an average price of $24.88 per share, with a total value of $124,400.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $124,400. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Prudence E. Carlson sold 3,510 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $24.96, for a total transaction of $87,609.60. Following the transaction, the director now directly owns 54,722 shares in the company, valued at approximately $1,365,861.12. The disclosure for this sale can be found here. Corporate insiders own 14.33% of the company’s stock.
Telephone & Data Systems Company Profile
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.
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