Point72 Asia Singapore Pte. Ltd. Trims Stock Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Point72 Asia Singapore Pte. Ltd. trimmed its position in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 48.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,803 shares of the Wireless communications provider's stock after selling 20,602 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Telephone and Data Systems were worth $507,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Telephone and Data Systems by 4,082.9% during the 2nd quarter. Blue Trust Inc. now owns 1,715 shares of the Wireless communications provider's stock worth $36,000 after purchasing an additional 1,674 shares during the last quarter. Quarry LP acquired a new position in shares of Telephone and Data Systems during the second quarter worth $40,000. CWM LLC lifted its holdings in shares of Telephone and Data Systems by 57.0% during the 2nd quarter. CWM LLC now owns 3,939 shares of the Wireless communications provider's stock valued at $82,000 after purchasing an additional 1,430 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Telephone and Data Systems in the 2nd quarter worth $88,000. Finally, GAMMA Investing LLC increased its stake in Telephone and Data Systems by 13.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,812 shares of the Wireless communications provider's stock valued at $100,000 after purchasing an additional 585 shares in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TDS has been the subject of a number of research reports. Raymond James upgraded shares of Telephone and Data Systems from a "market perform" rating to an "outperform" rating and set a $51.00 target price for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on Telephone and Data Systems from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, November 4th.

Telephone and Data Systems Price Performance

NYSE:TDS traded up $0.57 during trading hours on Tuesday, reaching $34.38. 880,032 shares of the company were exchanged, compared to its average volume of 1,093,727. The stock's 50-day moving average is $28.54 and its 200-day moving average is $23.71. Telephone and Data Systems, Inc. has a twelve month low of $13.69 and a twelve month high of $34.76. The firm has a market cap of $3.88 billion, a PE ratio of -6.37 and a beta of 0.81. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.19. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the previous year, the business earned ($0.16) earnings per share. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.16 annualized dividend and a yield of 0.47%. Telephone and Data Systems's dividend payout ratio is presently -2.96%.

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.