Victory Capital Management Inc. Sells 1,678 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Victory Capital Management Inc. cut its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 4.0% during the third quarter, HoldingsChannel.com reports. The firm owned 39,836 shares of the Wireless communications provider’s stock after selling 1,678 shares during the period. Victory Capital Management Inc.’s holdings in Telephone and Data Systems were worth $926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TDS. Blue Trust Inc. increased its position in shares of Telephone and Data Systems by 4,082.9% during the second quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock valued at $36,000 after purchasing an additional 1,674 shares during the period. Quarry LP bought a new stake in shares of Telephone and Data Systems during the second quarter valued at approximately $40,000. CWM LLC increased its position in shares of Telephone and Data Systems by 57.0% during the second quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock valued at $82,000 after purchasing an additional 1,430 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Telephone and Data Systems during the second quarter valued at approximately $88,000. Finally, GAMMA Investing LLC increased its position in shares of Telephone and Data Systems by 13.8% during the second quarter. GAMMA Investing LLC now owns 4,812 shares of the Wireless communications provider’s stock valued at $100,000 after purchasing an additional 585 shares during the period. 80.00% of the stock is currently owned by institutional investors.

Telephone and Data Systems Price Performance

Shares of TDS stock opened at $34.12 on Thursday. The stock’s fifty day simple moving average is $27.65 and its 200 day simple moving average is $23.32. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of -6.32 and a beta of 0.77. Telephone and Data Systems, Inc. has a one year low of $13.69 and a one year high of $34.76.

Telephone and Data Systems (NYSE:TDS) last announced its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.19. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.24 billion. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. Telephone and Data Systems’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.16) EPS. On average, analysts expect that Telephone and Data Systems, Inc. will post -0.36 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 16th. Telephone and Data Systems’s dividend payout ratio is currently -2.96%.

Analyst Ratings Changes

A number of analysts have recently issued reports on TDS shares. Raymond James upgraded Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price objective on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on Telephone and Data Systems from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, November 4th.

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.