Bank of New York Mellon Corp Has $31.37 Million Holdings in Telephone and Data Systems, Inc. (NYSE:TDS)

Bank of New York Mellon Corp decreased its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 919,789 shares of the Wireless communications provider's stock after selling 288,408 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.81% of Telephone and Data Systems worth $31,374,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Telephone and Data Systems by 1.6% during the third quarter. State Street Corp now owns 4,039,070 shares of the Wireless communications provider's stock worth $93,908,000 after buying an additional 65,432 shares during the last quarter. Geode Capital Management LLC grew its holdings in Telephone and Data Systems by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,291,071 shares of the Wireless communications provider's stock worth $53,278,000 after acquiring an additional 43,470 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Telephone and Data Systems by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,863 shares of the Wireless communications provider's stock valued at $34,035,000 after acquiring an additional 103,114 shares during the last quarter. Silver Point Capital L.P. acquired a new position in shares of Telephone and Data Systems in the 3rd quarter valued at $29,062,000. Finally, FMR LLC boosted its position in shares of Telephone and Data Systems by 0.3% in the 3rd quarter. FMR LLC now owns 1,152,579 shares of the Wireless communications provider's stock worth $26,797,000 after purchasing an additional 3,002 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors.

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Telephone and Data Systems Trading Up 0.9 %

NYSE TDS traded up $0.31 during trading on Wednesday, reaching $34.73. 662,738 shares of the stock traded hands, compared to its average volume of 893,604. Telephone and Data Systems, Inc. has a fifty-two week low of $14.04 and a fifty-two week high of $41.21. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -6.43 and a beta of 0.75. The stock's 50-day moving average price is $35.84 and its 200 day moving average price is $31.09.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last announced its quarterly earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. Analysts predict that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.16 annualized dividend and a dividend yield of 0.46%. Telephone and Data Systems's dividend payout ratio (DPR) is currently -18.60%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price objective on Telephone and Data Systems from $53.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, February 24th.

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.