Pinnacle Associates Ltd. Purchases 55,434 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Pinnacle Associates Ltd. boosted its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 13.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 468,809 shares of the Wireless communications provider's stock after buying an additional 55,434 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.41% of Telephone and Data Systems worth $10,900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Telephone and Data Systems by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,569,591 shares of the Wireless communications provider's stock worth $201,365,000 after acquiring an additional 320,976 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Telephone and Data Systems by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,018,541 shares of the Wireless communications provider's stock valued at $124,761,000 after purchasing an additional 507,512 shares during the period. American Century Companies Inc. lifted its stake in shares of Telephone and Data Systems by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 2,655,980 shares of the Wireless communications provider's stock valued at $55,058,000 after buying an additional 206,819 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in Telephone and Data Systems by 4.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 2,092,042 shares of the Wireless communications provider's stock worth $33,515,000 after buying an additional 88,994 shares during the period. Finally, Millennium Management LLC increased its stake in Telephone and Data Systems by 34.0% in the 2nd quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider's stock worth $40,430,000 after buying an additional 495,189 shares in the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Price Performance

Shares of Telephone and Data Systems stock traded up $0.10 during trading hours on Thursday, hitting $29.71. The company's stock had a trading volume of 1,098,184 shares, compared to its average volume of 1,089,896. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.37 and a current ratio of 1.51. Telephone and Data Systems, Inc. has a 12-month low of $13.69 and a 12-month high of $30.44. The business has a 50 day moving average price of $24.30 and a two-hundred day moving average price of $21.14. The company has a market cap of $3.36 billion, a PE ratio of -6.13 and a beta of 0.81.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last posted its earnings results on Friday, August 2nd. The Wireless communications provider reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.24 billion. Telephone and Data Systems had a negative net margin of 9.31% and a positive return on equity of 0.73%. Telephone and Data Systems's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted ($0.17) earnings per share. Analysts expect that Telephone and Data Systems, Inc. will post -0.44 earnings per share for the current fiscal year.

Telephone and Data Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, September 16th. Telephone and Data Systems's payout ratio is presently -3.31%.

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.