Telephone and Data Systems (TDS)

UNITED STATES CELLULAR CORPORATION • BANGOR CELLULAR TELEPHONE, L.P. • CALIFORNIA RURAL SERVICE AREA #1, INC. • CEDAR RAPIDS CELLULAR TELEPHONE, L.P. • CELLVEST, INC. • CENTRAL CELLULAR TELEPHONES, LTD. • CHAMPLAIN CELLULAR, INC. • COMMUNITY CELLULAR TELEPHONE COMPANY • CROWN POINT CELLULAR, INC. • DUBUQUE CELLULAR TELEPHONE, L.P. ...

IRS number

362669023

TDS stock data

1M 3M 6M 1Y

Analyst ratings and price targets

Last 3 months

Average target

$45.50

Low target

$40.00

High target

$51.00

Latest filings (excl ownership)

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8-K

TDS announces CEO transition

27 Jan 25

8-K

Departure of Directors or Certain Officers

15 Jan 25

8-K

Amendments to Articles of Incorporation or Bylaws

13 Dec 24

DEFA14A

Additional proxy soliciting materials

20 Nov 24

8-K

Departure of Directors or Certain Officers

12 Nov 24

8-K

UScellular announces sale of select spectrum assets to AT&T for $1.018 billion

1 Nov 24

TDS reports third quarter 2024 results

1 Nov 24

8-K

UScellular announces sale of select spectrum assets for $1.0 billion

18 Oct 24

10-Q/A

2024 Q2

Quarterly report (amended)

2 Aug 24

Transcripts

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TDS

Earnings call transcript

2024 Q2

2 Aug 24

TDS

Earnings call transcript

2024 Q1

3 May 24

TDS

Earnings call transcript

2023 Q2

4 Aug 23

TDS

Earnings call transcript

2023 Q1

5 May 23

TDS

Earnings call transcript

2022 Q4

17 Feb 23

TDS

Earnings call transcript

2022 Q3

4 Nov 22

TDS

Earnings call transcript

2022 Q2

5 Aug 22

TDS

Earnings call transcript

2022 Q1

6 May 22

TDS

Earnings call transcript

2021 Q4

18 Feb 22

TDS

Earnings call transcript

2021 Q3

8 Nov 21

Latest ownership filings

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Annual statement of changes in insider ownership

17 Jan 25

LEROY T CARLSON JR

7 Jan 25

Napoleon B Rutledge JR

DIMENSIONAL FUND ADVISORS LP

TELEPHONE & DATA SYSTEMS INC VOTING TRUST 1989

3 Jul 24

Financial summary

Financial statements Chart TDS financial data

Quarter (USD)	Sep 24	Jun 24	Mar 24	Dec 23
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 23	Dec 22	Dec 21	Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	472.00 mm	472.00 mm	472.00 mm	472.00 mm	472.00 mm	472.00 mm
Cash burn (monthly)	(no burn)	(no burn)	34.67 mm	45.50 mm	(no burn)	(no burn)
Cash used (since last report)	n/a	n/a	139.44 mm	183.01 mm	n/a	n/a
Cash remaining	n/a	n/a	332.56 mm	288.99 mm	n/a	n/a
Runway (months of cash)	n/a	n/a	9.6	6.4	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2024

TDS institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	278	262	+6.1%
Opened positions	39	52	-25.0%
Closed positions	23	43	-46.5%
Increased positions	89	96	-7.3%
Reduced positions	112	80	+40.0%

13F shares	Current	Prev Q	Change
Total value	2.12 tn	1.85 tn	+14.8%
Total shares	107.48 mm	105.61 mm	+1.8%
Total puts	602.93 k	647.40 k	-6.9%
Total calls	3.24 mm	2.51 mm	+29.0%
Total put/call ratio	0.2	0.3	-27.8%

Largest owners	Shares	Value	Change
BlackRock	16.65 mm	$387.16 bn	NEW
Telephone & Data Systems Inc Voting Trust 1989	13.52 mm	$279.98 mm	+0.1%
Vanguard	12.31 mm	$286.13 bn	+2.6%
Dimensional Fund Advisors	6.29 mm	$146.24 bn	+4.5%
STT State Street	4.04 mm	$93.91 bn	+1.6%
American Century Companies	3.03 mm	$70.35 bn	+13.9%
Third Point	2.88 mm	$66.84 bn	+26.9%
Geode Capital Management	2.29 mm	$53.28 bn	+1.9%
MS Morgan Stanley	2.04 mm	$47.47 bn	+20.4%
Gamco Investors	1.94 mm	$45.17 bn	-2.6%

Largest transactions	Shares	Bought/sold	Change
BLK BlackRock	0.00	-16.82 mm	EXIT
BlackRock	16.65 mm	+16.65 mm	NEW
Silver Point Capital	1.25 mm	+1.25 mm	NEW
MIRAE ASSET GLOBAL ETFS	54.00 k	-842.52 k	-94.0%
Arrowstreet Capital, Limited Partnership	1.09 mm	+713.19 k	+188.0%
Third Point	2.88 mm	+608.94 k	+26.9%
IVZ Invesco	1.56 mm	+577.81 k	+58.7%
Millennium Management	1.44 mm	-508.54 k	-26.1%
Boothbay Fund Management	208.26 k	-482.93 k	-69.9%
Private Management	1.78 mm	-480.70 k	-21.3%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

TDS insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
6 Jan 25	Carlson Leroy T JR	Common Shares	Payment of exercise	Dispose F	No	No	33.26	3,936	130.91 k	10,667
6 Jan 25	Carlson Leroy T JR	Common Shares	Option exercise	Acquire M	No	No	0	14,603	0.00	14,603
6 Jan 25	Carlson Leroy T JR	Deferred Compensation Common Shares	Option exercise	Dispose M	No	No	0	14,602	0.00	51,528
16 Oct 24	Voting Trust	Common Stock		Dispose Z	Yes	No	0	10,257	0.00	6,298,354
16 Oct 24	Voting Trust	Series A Common Shares Common Shares		Dispose Z	Yes	No	0	13,715	0.00	7,206,296
8 Aug 24	Carlson Leroy T JR	Common Shares	Gift	Acquire G	Yes	No	0	105,521.32	0.00	105,521.32
8 Aug 24	Carlson Leroy T JR	Common Shares	Gift	Dispose G	Yes	No	0	105,521.32	0.00	0
8 Aug 24	Carlson Leroy T JR	Common Shares	Gift	Acquire G	Yes	No	0	178,686.15	0.00	1,812,451
8 Aug 24	Carlson Leroy T JR	Common Shares	Gift	Dispose G	Yes	No	0	178,686.15	0.00	1,812,451
8 Aug 24	Carlson Leroy T JR	Common Shares	Gift	Acquire G	Yes	No	0	111,940.19	0.00	1,812,451