Pinnacle Associates Ltd. Has $9.41 Million Holdings in Telephone & Data Systems, Inc. (TDS)

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Pinnacle Associates Ltd. lessened its stake in shares of Telephone & Data Systems, Inc. (NYSE:TDS) by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 289,152 shares of the Wireless communications provider’s stock after selling 36,626 shares during the quarter. Pinnacle Associates Ltd. owned about 0.26% of Telephone & Data Systems worth $9,409,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TDS. Steward Partners Investment Advisory LLC acquired a new stake in Telephone & Data Systems during the 3rd quarter valued at $100,000. Dupont Capital Management Corp acquired a new stake in Telephone & Data Systems during the 4th quarter valued at $209,000. Oakbrook Investments LLC grew its holdings in Telephone & Data Systems by 20.0% during the 3rd quarter. Oakbrook Investments LLC now owns 9,620 shares of the Wireless communications provider’s stock valued at $293,000 after buying an additional 1,600 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in Telephone & Data Systems during the 4th quarter valued at $302,000. Finally, First Citizens Bank & Trust Co. acquired a new stake in Telephone & Data Systems during the 4th quarter valued at $314,000. Hedge funds and other institutional investors own 83.28% of the company’s stock.

In other news, VP Kurt B. Thaus sold 41,499 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 22,600 shares in the company, valued at $801,622. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James W. Butman sold 42,826 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $35.91, for a total value of $1,537,881.66. Following the sale, the chief executive officer now owns 59,323 shares in the company, valued at approximately $2,130,288.93. The disclosure for this sale can be found here. Insiders have sold 95,873 shares of company stock worth $3,417,350 in the last 90 days. Insiders own 16.27% of the company’s stock.

TDS stock opened at $35.03 on Monday. Telephone & Data Systems, Inc. has a 52-week low of $23.54 and a 52-week high of $37.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.65 and a current ratio of 2.80. The firm has a market cap of $3.96 billion, a PE ratio of 66.09 and a beta of 0.94.

A number of equities research analysts have commented on TDS shares. Zacks Investment Research cut Telephone & Data Systems from a “buy” rating to a “hold” rating in a report on Saturday, February 2nd. B. Riley set a $42.00 target price on Telephone & Data Systems and gave the company a “buy” rating in a report on Wednesday, November 7th. Finally, Raymond James increased their target price on Telephone & Data Systems from $31.00 to $36.00 and gave the company 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 stock. The stock currently has an average rating of “Buy” and a consensus 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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