Telephone and Data Systems, Inc. (NYSE:TDS) Stock Holdings Decreased by Third Point LLC

Third Point LLC lessened its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 31.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,136,832 shares of the Wireless communications provider's stock after selling 1,000,000 shares during the quarter. Telephone and Data Systems makes up approximately 0.6% of Third Point LLC's holdings, making the stock its 25th biggest holding. Third Point LLC owned about 1.89% of Telephone and Data Systems worth $39,211,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TDS. New York State Common Retirement Fund grew its position in shares of Telephone and Data Systems by 46.1% in the 3rd quarter. New York State Common Retirement Fund now owns 40,344 shares of the Wireless communications provider's stock worth $739,000 after acquiring an additional 12,723 shares in the last quarter. Swiss National Bank grew its holdings in shares of Telephone and Data Systems by 0.9% during the third quarter. Swiss National Bank now owns 219,600 shares of the Wireless communications provider's stock valued at $4,021,000 after purchasing an additional 1,900 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Telephone and Data Systems by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,307,551 shares of the Wireless communications provider's stock valued at $23,941,000 after purchasing an additional 58,246 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Telephone and Data Systems in the 3rd quarter worth approximately $2,170,000. Finally, Deutsche Bank AG boosted its position in Telephone and Data Systems by 15.6% during the 3rd quarter. Deutsche Bank AG now owns 48,419 shares of the Wireless communications provider's stock valued at $887,000 after purchasing an additional 6,543 shares during the period. Institutional investors own 80.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TDS. StockNews.com upgraded Telephone and Data Systems from a "sell" rating to a "hold" rating in a research note on Monday, May 6th. JPMorgan Chase & Co. cut their price objective 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 Stock Down 0.5 %

Telephone and Data Systems stock traded down $0.10 during mid-day trading on Wednesday, hitting $20.45. 1,102,891 shares of the company's stock traded hands, compared to its average volume of 1,145,617. The company has a quick ratio of 1.40, a current ratio of 1.58 and a debt-to-equity ratio of 0.84. Telephone and Data Systems, Inc. has a one year low of $6.99 and a one year high of $23.35. The firm has a 50 day moving average price of $17.82 and a 200 day moving average price of $17.58.

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 for the quarter, beating analysts' consensus estimates of ($0.05) by $0.15. The business had revenue of $1.26 billion for 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 company's revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) earnings per share. Equities analysts predict that Telephone and Data Systems, Inc. will post -0.34 earnings per share for the current year.

Telephone and Data Systems Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, June 14th. Telephone and Data Systems's dividend payout ratio (DPR) is presently -15.61%.

Telephone and Data Systems 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.

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