Empowered Funds LLC Reduces Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Empowered Funds LLC reduced its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 5.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 467,000 shares of the Wireless communications provider’s stock after selling 29,239 shares during the period. Empowered Funds LLC owned about 0.41% of Telephone and Data Systems worth $10,858,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TDS. Blue Trust Inc. raised its stake 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 acquiring an additional 1,674 shares during the last quarter. Quarry LP bought a new position in shares of Telephone and Data Systems in the 2nd quarter worth approximately $40,000. CWM LLC boosted 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 in the last quarter. Neo Ivy Capital Management purchased a new stake in Telephone and Data Systems in the second quarter worth $88,000. Finally, Natixis bought a new position in Telephone and Data Systems in the first quarter worth $96,000. Institutional investors own 80.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TDS shares. JPMorgan Chase & Co. upped their target price on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report 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 target price for the company in a research note on Thursday, November 7th.

Telephone and Data Systems Price Performance

TDS opened at $31.17 on Friday. The firm has a market cap of $3.52 billion, a PE ratio of -5.77 and a beta of 0.77. The stock has a 50-day moving average price of $25.92 and a 200-day moving average price of $22.25. Telephone and Data Systems, Inc. has a 1 year low of $13.69 and a 1 year high of $34.57. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44.

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

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.