Clarity Asset Management Inc. Cuts Stock Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Clarity Asset Management Inc. cut its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 23.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,897 shares of the Wireless communications provider’s stock after selling 593 shares during the period. Clarity Asset Management Inc.’s holdings in Telephone and Data Systems were worth $39,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TDS. Susquehanna Fundamental Investments LLC lifted its stake in Telephone and Data Systems by 41.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 65,900 shares of the Wireless communications provider’s stock worth $1,366,000 after acquiring an additional 19,410 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Telephone and Data Systems by 34.5% during the 2nd quarter. Mackenzie Financial Corp now owns 46,740 shares of the Wireless communications provider’s stock worth $969,000 after purchasing an additional 11,978 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Telephone and Data Systems by 4.0% during the second quarter. The Manufacturers Life Insurance Company now owns 51,021 shares of the Wireless communications provider’s stock worth $1,058,000 after purchasing an additional 1,966 shares in the last quarter. Millennium Management LLC increased its holdings in Telephone and Data Systems by 34.0% in the second quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider’s stock valued at $40,430,000 after buying an additional 495,189 shares during the last quarter. Finally, Empyrean Capital Partners LP raised its stake in Telephone and Data Systems by 44.4% in the second quarter. Empyrean Capital Partners LP now owns 288,800 shares of the Wireless communications provider’s stock valued at $5,987,000 after buying an additional 88,800 shares in the last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.

Telephone and Data Systems Trading Up 2.3 %

NYSE:TDS opened at $24.08 on Friday. Telephone and Data Systems, Inc. has a 1 year low of $13.69 and a 1 year high of $24.92. The stock has a market cap of $2.72 billion, a P/E ratio of -4.94 and a beta of 0.81. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.37 and a current ratio of 1.51. The stock has a 50-day simple moving average of $21.95 and a 200-day simple moving average of $19.48.

Telephone and Data Systems (NYSE:TDS) last released its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.13). The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Telephone and Data Systems had a positive return on equity of 0.73% and a negative net margin of 9.31%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. As a group, analysts anticipate that Telephone and Data Systems, Inc. will post -0.43 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.66%. Telephone and Data Systems’s payout ratio is -3.29%.

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.