Pinnacle Associates Ltd. Cuts Holdings in Telephone & Data Systems, Inc. (TDS)

Pinnacle Associates Ltd. cut its stake in Telephone & Data Systems, Inc. (NYSE:TDS) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,152 shares of the Wireless communications provider’s stock after selling 36,626 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Telephone & Data Systems were worth $9,409,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TDS. Copper Rock Capital Partners LLC acquired a new position in Telephone & Data Systems in the fourth quarter valued at approximately $20,074,000. Acadian Asset Management LLC raised its holdings in Telephone & Data Systems by 39.7% during the third quarter. Acadian Asset Management LLC now owns 1,268,191 shares of the Wireless communications provider’s stock worth $38,593,000 after purchasing an additional 360,121 shares in the last quarter. Citadel Advisors LLC raised its holdings in Telephone & Data Systems by 125.0% during the third quarter. Citadel Advisors LLC now owns 647,997 shares of the Wireless communications provider’s stock worth $19,719,000 after purchasing an additional 359,956 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Telephone & Data Systems by 163.9% during the second quarter. Advisors Asset Management Inc. now owns 467,854 shares of the Wireless communications provider’s stock worth $12,829,000 after purchasing an additional 290,598 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Telephone & Data Systems by 1.5% during the third quarter. BlackRock Inc. now owns 17,222,208 shares of the Wireless communications provider’s stock worth $524,073,000 after purchasing an additional 260,949 shares in the last quarter. 83.28% of the stock is currently owned by institutional investors.

In other Telephone & Data Systems news, CEO James W. Butman sold 42,826 shares of Telephone & Data Systems stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $35.91, for a total transaction of $1,537,881.66. Following the transaction, the chief executive officer now directly owns 59,323 shares in the company, valued at approximately $2,130,288.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kurt B. Thaus sold 41,499 shares of Telephone & Data Systems stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $35.47, for a total transaction of $1,471,969.53. Following the transaction, the vice president now owns 22,600 shares in the company, valued at $801,622. The disclosure for this sale can be found here. Insiders sold 95,873 shares of company stock worth $3,417,350 in the last ninety days. 16.27% of the stock is owned by corporate insiders.

NYSE TDS opened at $35.03 on Monday. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 66.09 and a beta of 0.94. Telephone & Data Systems, Inc. has a 1 year low of $23.54 and a 1 year high of $37.29. The company has a current ratio of 2.80, a quick ratio of 2.65 and a debt-to-equity ratio of 0.46.

Several equities research analysts recently commented on the company. B. Riley reissued a “buy” rating and set a $42.00 target price on shares of Telephone & Data Systems in a report on Thursday, November 1st. Zacks Investment Research cut Telephone & Data Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. Finally, Raymond James boosted their target price on Telephone & Data Systems from $31.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, November 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $38.20.

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About Telephone & Data Systems

Telephone and Data Systems, Inc, a telecommunications company, provides wireless, wireline, cable, and hosted and managed services in the United States. The company offers cellular services, such as postpaid national plans and prepaid service plans with voice, messaging, and data usage options; and business rate plans.

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

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