The Virginia Retirement Systems ET AL Acquires Shares of 13,000 Telephone & Data Systems Inc. (TDS)

The Virginia Retirement Systems ET AL Acquires Shares of 13,000 Telephone & Data Systems Inc. (TDS)

Virginia Retirement Systems ET AL acquired a new position in shares of Telephone & Data Systems Inc. (NYSE:TDS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,000 shares of the company’s stock, valued at approximately $386,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. LS Investment Advisors LLC raised its position in shares of Telephone & Data Systems by 76.2% in the second quarter. LS Investment Advisors LLC now owns 5,668 shares of the company’s stock worth $168,000 after buying an additional 2,452 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Telephone & Data Systems during the second quarter worth $184,000. Springbok Capital Management LLC raised its position in shares of Telephone & Data Systems by 52.6% in the first quarter. Springbok Capital Management LLC now owns 9,314 shares of the company’s stock worth $280,000 after buying an additional 3,210 shares during the last quarter. Oakbrook Investments LLC raised its position in shares of Telephone & Data Systems by 24.3% in the second quarter. Oakbrook Investments LLC now owns 9,730 shares of the company’s stock worth $289,000 after buying an additional 1,900 shares during the last quarter. Finally, Banced Corp purchased a new position in shares of Telephone & Data Systems during the second quarter worth $295,000. Institutional investors own 80.30% of the company’s stock.

Shares of Telephone & Data Systems Inc. (NYSE:TDS) opened at 26.68 on Friday. The firm has a 50 day moving average price of $27.54 and a 200-day moving average price of $28.91. The firm has a market capitalization of $2.92 billion, a P/E ratio of 34.78 and a beta of 1.11. Telephone & Data Systems Inc. has a 52 week low of $20.83 and a 52 week high of $32.00.

Telephone & Data Systems (NYSE:TDS) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.12. Telephone & Data Systems had a return on equity of 1.57% and a net margin of 1.67%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. Telephone & Data Systems’s quarterly revenue was up .5% on a year-over-year basis. Equities research analysts predict that Telephone & Data Systems Inc. will post $0.44 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a dividend of $0.148 per share. This represents a $0.59 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Wednesday, September 14th. Telephone & Data Systems’s dividend payout ratio is presently 76.62%.

A number of brokerages have issued reports on TDS. Zacks Investment Research downgraded Telephone & Data Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Morgan Stanley reaffirmed a “hold” rating on shares of Telephone & Data Systems in a research note on Thursday, June 30th. Finally, Drexel Hamilton set a $38.00 target price on Telephone & Data Systems and gave the stock a “buy” rating in a research note on Monday, October 3rd.

In related news, insider David A. Wittwer sold 109,791 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $30.62, for a total transaction of $3,361,800.42. Following the transaction, the insider now owns 144,531 shares of the company’s stock, valued at $4,425,539.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth R. Meyers sold 43,200 shares of the company’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $29.48, for a total value of $1,273,536.00. Following the transaction, the director now directly owns 40,614 shares in the company, valued at approximately $1,197,300.72. The disclosure for this sale can be found here. Corporate insiders own 17.30% of the company’s stock.

Telephone & Data Systems Company Profile

Telephone and Data Systems, Inc is a diversified telecommunications company. The Company conducts its Wireless operations through its subsidiary, United States Cellular Corporation (U.S. Cellular). It provides Wireline services, cable services and hosted and managed services, through its subsidiary, TDS Telecommunications Corporation (TDS Telecom).

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