BlackRock Inc. reduced its holdings in Telephone & Data Systems, Inc. (NYSE:TDS) by 9.0% during the first quarter, Holdings Channel reports. The institutional investor owned 11,944,930 shares of the Wireless communications provider’s stock after selling 1,180,898 shares during the quarter. BlackRock Inc. owned 0.10% of Telephone & Data Systems worth $367,069,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Telephone & Data Systems by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,420,433 shares of the Wireless communications provider’s stock valued at $274,001,000 after acquiring an additional 305,937 shares during the period. Acadian Asset Management LLC grew its position in shares of Telephone & Data Systems by 15.6% during the 1st quarter. Acadian Asset Management LLC now owns 2,961,527 shares of the Wireless communications provider’s stock valued at $91,008,000 after acquiring an additional 399,521 shares during the period. Northern Trust Corp grew its position in shares of Telephone & Data Systems by 12.2% during the 4th quarter. Northern Trust Corp now owns 1,604,643 shares of the Wireless communications provider’s stock valued at $52,215,000 after acquiring an additional 174,624 shares during the period. Norges Bank acquired a new stake in shares of Telephone & Data Systems during the 4th quarter valued at about $49,870,000. Finally, Geode Capital Management LLC grew its position in shares of Telephone & Data Systems by 30.8% during the 4th quarter. Geode Capital Management LLC now owns 1,421,622 shares of the Wireless communications provider’s stock valued at $46,258,000 after acquiring an additional 334,975 shares during the period. Hedge funds and other institutional investors own 80.91% of the company’s stock.

A number of research firms have recently commented on TDS. TheStreet cut Telephone & Data Systems from a “b-” rating to a “c+” rating in a research report on Wednesday, May 1st. ValuEngine upgraded Telephone & Data Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, Zacks Investment Research cut Telephone & Data Systems from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $38.20.

In related news, Director Mitchell H. Saranow sold 4,000 shares of Telephone & Data Systems stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $31.75, for a total value of $127,000.00. Following the sale, the director now directly owns 15,074 shares in the company, valued at approximately $478,599.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kenneth R. Meyers sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $32.30, for a total value of $1,292,000.00. Following the transaction, the insider now owns 32,305 shares in the company, valued at $1,043,451.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,277 shares of company stock worth $1,990,275. 14.33% of the stock is currently owned by insiders.

TDS stock opened at $29.55 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.25 and a current ratio of 2.42. Telephone & Data Systems, Inc. has a 12-month low of $24.00 and a 12-month high of $37.29. The stock has a market capitalization of $3.44 billion, a P/E ratio of 25.26 and a beta of 1.03.

Telephone & Data Systems (NYSE:TDS) last posted its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.14. Telephone & Data Systems had a return on equity of 2.92% and a net margin of 3.00%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the firm posted $0.34 EPS. Telephone & Data Systems’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts expect that Telephone & Data Systems, Inc. will post 1.03 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, June 13th. Telephone & Data Systems’s payout ratio is 56.41%.

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

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