TELEPHONE AND DATA SYSTEMS, INC.
In the published model solve dated 2026-Q2, anchored at $35.43, TELEPHONE AND DATA SYSTEMS, INC. (TDS) is priced for today's economics sustained for ~8.4 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• TDS was transformed in August 2025 when it closed the $4.3 billion sale of its UScellular wireless business and spectrum to T-Mobile; the remaining company is TDS Telecom (fiber and broadband) plus a residual interest in the renamed tower business, Array Digital Infrastructure. [Source: Q1 2026 earnings release] • The pivot is toward fiber: Q1 2026 saw a record 40,000 new marketable fiber addresses, up about 180% year over year, with fiber revenue up 13%, offsetting legacy copper and cable dec
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342 institutional managers reported holding TDS in 13F filings for the quarter ended 2026-03-31. Together they hold about 86% of the company; the top 10 hold 52%. 51 opened new positions that quarter. Held by BlackRock, Vanguard Group, Third Point, among others. On the short side, 5.0M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (5.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
TDS has cut its share count 1% over the past five years, spending $159.38M on repurchases. It pays a dividend, and has for 10 years running; the current rate is $0.16 a share annually. Cash returned over the past three years: $290.53M in dividends and $108.39M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at TDS over the trailing three years. Absence is a fact about the company, not a signal. 16 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
TDS's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-05 | +87.8% | +11.3% |
| 2023-11-04 | +2.1% | -2.8% |
| 2024-02-17 | -23.9% | +9.5% |
| 2024-05-04 | -11.4% | +43.2% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
TDS's latest 8-K filings: 2026-08-07 (items 2.02, 9.01); 2026-06-01 (items 2.01, 8.01); 2026-05-26 (items 5.07); 2026-05-08 (items 2.02, 9.01); 2026-05-08 (items 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.