Norges Bank Acquires New Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Norges Bank acquired a new position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 447,115 shares of the Wireless communications provider's stock, valued at approximately $8,205,000. Norges Bank owned approximately 0.40% of Telephone and Data Systems at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TDS. Principal Securities Inc. acquired a new position in Telephone and Data Systems in the fourth quarter worth $25,000. Anchor Investment Management LLC acquired a new position in shares of Telephone and Data Systems during the fourth quarter worth approximately $46,000. GAMMA Investing LLC bought a new stake in shares of Telephone and Data Systems during the fourth quarter valued at approximately $93,000. Quadrant Capital Group LLC raised its position in Telephone and Data Systems by 14.0% in the 4th quarter. Quadrant Capital Group LLC now owns 5,062 shares of the Wireless communications provider's stock worth $93,000 after purchasing an additional 622 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Telephone and Data Systems during the 3rd quarter worth $109,000. Institutional investors and hedge funds own 80.00% of the company's stock.

Analyst Ratings Changes

TDS has been the subject of a number of recent research reports. StockNews.com upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research report on Monday, May 6th. JPMorgan Chase & Co. cut their target price on shares of Telephone and Data Systems from $36.00 to $34.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 29th.

Telephone and Data Systems Trading Down 4.1 %

TDS traded down $0.92 during midday trading on Friday, reaching $21.44. 1,085,169 shares of the company were exchanged, compared to its average volume of 1,148,183. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.58 and a quick ratio of 1.40. The stock's 50-day simple moving average is $17.51 and its 200 day simple moving average is $17.57. Telephone and Data Systems, Inc. has a one year low of $6.99 and a one year high of $23.35.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its quarterly earnings data on Friday, May 3rd. The Wireless communications provider reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.15. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.26 billion. Telephone and Data Systems had a negative net margin of 9.36% and a positive return on equity of 0.62%. The business's revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.08) earnings per share. As a group, equities analysts forecast that Telephone and Data Systems, Inc. will post -0.34 earnings per share for the current year.

Telephone and Data Systems Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.04 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.75%. Telephone and Data Systems's dividend payout ratio (DPR) is currently -15.61%.

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.