Cibc World Markets Corp Makes New Investment in Telephone and Data Systems, Inc. (NYSE:TDS)

Cibc World Markets Corp bought a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,231 shares of the Wireless communications provider's stock, valued at approximately $315,000.

Several other hedge funds have also modified their holdings of the stock. State Street Corp lifted its holdings in Telephone and Data Systems by 1.6% during the 3rd 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Telephone and Data Systems by 1.9% during the third 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Telephone and Data Systems by 7.6% during the third 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 period. Silver Point Capital L.P. bought a new position in Telephone and Data Systems in the third quarter valued at about $29,062,000. Finally, FMR LLC boosted its holdings in Telephone and Data Systems by 0.3% in the third quarter. FMR LLC now owns 1,152,579 shares of the Wireless communications provider's stock valued at $26,797,000 after acquiring an additional 3,002 shares during the last quarter. 80.00% of the stock is owned by institutional investors.

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Telephone and Data Systems Trading Up 1.9 %

NYSE TDS traded up $0.71 on Thursday, reaching $38.79. The company had a trading volume of 750,581 shares, compared to its average volume of 1,022,712. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. Telephone and Data Systems, Inc. has a 52 week low of $14.04 and a 52 week high of $41.21. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of -7.18 and a beta of 0.75. The stock's 50 day moving average is $36.44 and its 200-day moving average is $32.05.

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 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 business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. Equities analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current year.

Telephone and Data Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.41%. The ex-dividend date is Monday, March 17th. Telephone and Data Systems's payout ratio is presently -18.60%.

Wall Street Analysts Forecast Growth

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

Telephone and Data Systems Company Profile

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.