First Citizens Bank & Trust Co. Has $343,000 Position in Telephone & Data Systems, Inc. (TDS)

First Citizens Bank & Trust Co. raised its position in shares of Telephone & Data Systems, Inc. (NYSE:TDS) by 15.5% in the first quarter, Holdings Channel reports. The fund owned 11,158 shares of the Wireless communications provider’s stock after acquiring an additional 1,495 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Telephone & Data Systems were worth $343,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its position in shares of Telephone & Data Systems by 3,122.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,181,853 shares of the Wireless communications provider’s stock valued at $36,000 after purchasing an additional 1,145,175 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Telephone & Data Systems by 30.8% in the fourth quarter. Macquarie Group Ltd. now owns 1,700 shares of the Wireless communications provider’s stock valued at $55,000 after purchasing an additional 400 shares in the last quarter. Fort L.P. grew its position in shares of Telephone & Data Systems by 188.8% in the fourth quarter. Fort L.P. now owns 2,238 shares of the Wireless communications provider’s stock valued at $73,000 after purchasing an additional 1,463 shares in the last quarter. Doyle Wealth Management purchased a new stake in shares of Telephone & Data Systems in the fourth quarter valued at approximately $84,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Telephone & Data Systems by 19.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,553 shares of the Wireless communications provider’s stock valued at $181,000 after purchasing an additional 917 shares in the last quarter. 83.36% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on TDS shares. Zacks Investment Research upgraded Telephone & Data Systems from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, January 21st. ValuEngine lowered Telephone & Data Systems from a “buy” rating to a “hold” rating in a research report on Saturday, March 30th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $38.20.

In related news, Director Mitchell H. Saranow sold 4,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $31.75, for a total value of $127,000.00. Following the completion of the transaction, the director now directly owns 15,074 shares in the company, valued at $478,599.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth R. Meyers sold 40,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $32.30, for a total value of $1,292,000.00. Following the completion of the transaction, the insider now owns 32,305 shares of the company’s stock, valued at $1,043,451.50. The disclosure for this sale can be found here. Insiders sold 44,350 shares of company stock valued at $1,430,127 over the last 90 days. Company insiders own 16.27% of the company’s stock.

TDS stock opened at $31.99 on Wednesday. The company has a quick ratio of 2.48, a current ratio of 2.65 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.59 billion, a PE ratio of 27.34 and a beta of 1.00. Telephone & Data Systems, Inc. has a 1 year low of $24.00 and a 1 year high of $37.29.

Telephone & Data Systems (NYSE:TDS) last posted its quarterly earnings results on Friday, February 22nd. The Wireless communications provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Telephone & Data Systems had a net margin of 2.62% and a return on equity of 2.57%. Telephone & Data Systems’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. Equities research analysts predict that Telephone & Data Systems, Inc. will post 1.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.165 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Telephone & Data Systems’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.06%. Telephone & Data Systems’s dividend payout ratio is 56.41%.

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Telephone & Data Systems Profile

Telephone and Data Systems, Inc, a telecommunications company, provides wireless, cable and wireline broadband, TV, voice, and hosted and managed services in the United States. It operates through three segments: U.S. Cellular, Wireline, and Cable. The company offers cellular services to postpaid and prepaid customers, including retail consumers, government entities, and small-to-mid-size business customers in industries, such as the construction, retail, agriculture, professional services, and real estate; and national plans with voice, messaging, and data usage options.

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Institutional Ownership by Quarter for Telephone & Data Systems (NYSE:TDS)

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