Meeder Asset Management Inc. Sells 22,840 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Meeder Asset Management Inc. cut its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 85.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,770 shares of the Wireless communications provider's stock after selling 22,840 shares during the period. Meeder Asset Management Inc.'s holdings in Telephone and Data Systems were worth $129,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TDS. Norges Bank purchased a new position in shares of Telephone and Data Systems during the 4th quarter valued at $23,776,000. American Century Companies Inc. boosted its position in Telephone and Data Systems by 6.7% during the fourth 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 last quarter. JPMorgan Chase & Co. grew its stake in Telephone and Data Systems by 42.3% in the fourth quarter. JPMorgan Chase & Co. now owns 652,603 shares of the Wireless communications provider's stock valued at $22,260,000 after purchasing an additional 194,136 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Telephone and Data Systems in the 4th quarter worth about $5,619,000. Finally, New Age Alpha Advisors LLC acquired a new position in Telephone and Data Systems in the 4th quarter worth about $3,718,000. Institutional investors and hedge funds own 80.00% of the company's stock.

Wall Street Analyst Weigh In

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

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Telephone and Data Systems Stock Down 5.8 %

Shares of Telephone and Data Systems stock traded down $2.18 during midday trading on Friday, reaching $35.68. 1,338,406 shares of the company's stock traded hands, compared to its average volume of 1,078,204. The company has a market cap of $4.07 billion, a price-to-earnings ratio of -6.61 and a beta of 0.75. The company's 50 day simple moving average is $36.70 and its 200 day simple moving average is $32.82. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. Telephone and Data Systems, Inc. has a 52 week low of $14.04 and a 52 week high of $41.21.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.23. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. Equities 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.16 annualized dividend and a yield of 0.45%. Telephone and Data Systems's dividend payout ratio (DPR) is currently -18.60%.

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.