Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Telephone and Data Systems, Inc. (NYSE:TDS) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 459,780 shares of the Wireless communications provider’s stock after selling 26,499 shares during the period. Principal Financial Group Inc. owned 0.41% of Telephone and Data Systems worth $10,690,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Telephone and Data Systems by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,569,591 shares of the Wireless communications provider’s stock valued at $201,365,000 after acquiring an additional 320,976 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Telephone and Data Systems by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,018,541 shares of the Wireless communications provider’s stock valued at $124,761,000 after buying an additional 507,512 shares during the period. American Century Companies Inc. grew its stake in shares of Telephone and Data Systems by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 2,655,980 shares of the Wireless communications provider’s stock valued at $55,058,000 after buying an additional 206,819 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Telephone and Data Systems by 4.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,092,042 shares of the Wireless communications provider’s stock valued at $33,515,000 after buying an additional 88,994 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Telephone and Data Systems by 34.0% during the 2nd 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 period. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Telephone and Data Systems Stock Up 1.8 %

Shares of Telephone and Data Systems stock opened at $31.17 on Monday. The company has a fifty day moving average price of $26.09 and a 200 day moving average price of $22.40. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a twelve month low of $13.69 and a twelve month high of $34.57. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of -5.77 and a beta of 0.77.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TDS shares. JPMorgan Chase & Co. boosted their price objective on shares of 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. Raymond James raised shares of Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price target for the company in a research report on Thursday, November 7th.

About Telephone and Data Systems

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.