Martingale Asset Management L P Acquires Shares of 34,946 Telephone and Data Systems, Inc. (NYSE:TDS)

Martingale Asset Management L P purchased a new stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 34,946 shares of the Wireless communications provider's stock, valued at approximately $1,192,000.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Telephone and Data Systems in the 4th quarter valued at about $23,776,000. American Century Companies Inc. increased its position in Telephone and Data Systems by 6.7% during the 4th quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider's stock valued at $110,161,000 after purchasing an additional 203,897 shares during the period. JPMorgan Chase & Co. raised its holdings in Telephone and Data Systems by 42.3% during the 4th quarter. JPMorgan Chase & Co. now owns 652,603 shares of the Wireless communications provider's stock worth $22,260,000 after purchasing an additional 194,136 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Telephone and Data Systems in the 4th quarter worth approximately $5,619,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Telephone and Data Systems in the 4th quarter valued at $3,718,000. Institutional investors own 80.00% of the company's stock.

Telephone and Data Systems Stock Down 2.0 %

Shares of Telephone and Data Systems stock traded down $0.74 during trading on Wednesday, reaching $36.19. 681,297 shares of the company traded hands, compared to its average volume of 1,082,135. The firm has a market capitalization of $4.13 billion, a PE ratio of -6.70 and a beta of 0.62. Telephone and Data Systems, Inc. has a 1-year low of $14.04 and a 1-year high of $41.21. The company has a 50 day moving average price of $36.68 and a 200-day moving average price of $33.46. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44.

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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) 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 business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. As a group, equities research analysts expect that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.16 annualized dividend and a yield of 0.44%. Telephone and Data Systems's dividend payout ratio (DPR) is currently -18.60%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted 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 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.