State of New Jersey Common Pension Fund D Makes New $2.27 Million Investment in Telephone and Data Systems, Inc. (NYSE:TDS)

State of New Jersey Common Pension Fund D bought a new stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 66,619 shares of the Wireless communications provider's stock, valued at approximately $2,272,000. State of New Jersey Common Pension Fund D owned 0.06% of Telephone and Data Systems at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TDS. Versant Capital Management Inc raised its position in Telephone and Data Systems by 14.5% during the fourth quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider's stock valued at $82,000 after acquiring an additional 303 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Telephone and Data Systems by 8.3% during the 4th quarter. GAMMA Investing LLC now owns 5,742 shares of the Wireless communications provider's stock worth $196,000 after purchasing an additional 440 shares during the period. Aigen Investment Management LP increased its holdings in shares of Telephone and Data Systems by 5.3% during the 3rd quarter. Aigen Investment Management LP now owns 13,589 shares of the Wireless communications provider's stock valued at $316,000 after purchasing an additional 685 shares in the last quarter. Quarry LP lifted its stake in shares of Telephone and Data Systems by 35.5% in the 3rd quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider's stock valued at $61,000 after purchasing an additional 692 shares during the period. Finally, Innealta Capital LLC boosted its holdings in Telephone and Data Systems by 8.0% during the third quarter. Innealta Capital LLC now owns 11,313 shares of the Wireless communications provider's stock worth $263,000 after buying an additional 835 shares in the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of analysts have recently commented on TDS shares. Raymond James upgraded Telephone and Data Systems from a "market perform" rating to an "outperform" rating and set a $51.00 price objective for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the company an "overweight" rating in a report on Monday.

Telephone and Data Systems Trading Down 1.0 %

NYSE:TDS traded down $0.37 during trading hours on Tuesday, hitting $36.31. The company had a trading volume of 1,187,885 shares, compared to its average volume of 844,813. Telephone and Data Systems, Inc. has a 1 year low of $13.92 and a 1 year high of $41.21. The company has a market cap of $4.10 billion, a P/E ratio of -6.72 and a beta of 0.80. The company has a 50-day moving average of $35.64 and a 200 day moving average of $29.98. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its quarterly earnings data on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.32) by $0.23. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. Sell-side analysts expect that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.44%. Telephone and Data Systems's dividend payout ratio is currently -18.60%.

About Telephone and Data Systems

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.