Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by Empowered Funds LLC

Empowered Funds LLC lowered its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 5.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 467,000 shares of the Wireless communications provider's stock after selling 29,239 shares during the quarter. Empowered Funds LLC owned approximately 0.41% of Telephone and Data Systems worth $10,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Telephone and Data Systems by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,569,591 shares of the Wireless communications provider's stock worth $201,365,000 after acquiring an additional 320,976 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 worth $124,761,000 after purchasing an additional 507,512 shares during the last quarter. American Century Companies Inc. grew its position in shares of Telephone and Data Systems by 8.4% in the second quarter. American Century Companies Inc. now owns 2,655,980 shares of the Wireless communications provider's stock valued at $55,058,000 after purchasing an additional 206,819 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Telephone and Data Systems by 4.4% in the first 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 purchasing an additional 88,994 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Telephone and Data Systems by 34.0% in the second quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider's stock valued at $40,430,000 after purchasing an additional 495,189 shares during the last quarter. Hedge funds and other institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Trading Up 1.8 %

Shares of TDS stock traded up $0.54 during trading on Friday, hitting $31.17. 988,335 shares of the stock traded hands, compared to its average volume of 1,105,866. Telephone and Data Systems, Inc. has a 52-week low of $13.69 and a 52-week high of $34.57. The firm has a market capitalization of $3.52 billion, a P/E ratio of -5.77 and a beta of 0.77. The firm's fifty day moving average price is $26.09 and its 200-day moving average price is $22.36. 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 - Get Free Report) last posted 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 company had revenue of $1.22 billion during the quarter, compared to analysts' expectations 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%. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.16) earnings per share. As a group, research analysts forecast that Telephone and Data Systems, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on TDS. Raymond James upgraded 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 report on Thursday, November 7th. JPMorgan Chase & Co. upped 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 report on Monday, November 4th.

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.