ProShare Advisors LLC Decreases Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

ProShare Advisors LLC cut its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 15.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 423,662 shares of the Wireless communications provider’s stock after selling 78,239 shares during the quarter. ProShare Advisors LLC owned 0.37% of Telephone and Data Systems worth $8,783,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TDS. Principal Securities Inc. purchased a new position in shares of Telephone and Data Systems in the fourth quarter worth $25,000. Blue Trust Inc. increased its stake in shares of Telephone and Data Systems by 4,082.9% in the second quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider’s stock worth $36,000 after buying an additional 1,674 shares during the period. Quarry LP purchased a new position in shares of Telephone and Data Systems in the fourth quarter worth $60,000. CWM LLC increased its stake in shares of Telephone and Data Systems by 57.0% in the second quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider’s stock worth $82,000 after buying an additional 1,430 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of Telephone and Data Systems in the second quarter worth $88,000. 80.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. decreased their target price on shares of Telephone and Data Systems from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 29th.

Telephone and Data Systems Trading Up 0.3 %

NYSE:TDS opened at $22.93 on Wednesday. The firm’s fifty day simple moving average is $21.89 and its 200 day simple moving average is $19.42. Telephone and Data Systems, Inc. has a twelve month low of $13.69 and a twelve month high of $24.92. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 0.84.

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 for the quarter, meeting the consensus estimate of ($0.13). The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Telephone and Data Systems had a negative net margin of 9.31% and a positive return on equity of 0.73%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.17) earnings per share. Equities analysts predict that Telephone and Data Systems, Inc. will post -0.43 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Monday, September 16th. Telephone and Data Systems’s dividend payout ratio (DPR) is currently -3.29%.

Telephone and Data Systems Company 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.