Telephone and Data Systems, Inc. (NYSE:TDS) Shares Sold by Private Management Group Inc.

Private Management Group Inc. reduced its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,300,545 shares of the Wireless communications provider's stock after selling 474,874 shares during the quarter. Telephone and Data Systems makes up approximately 1.6% of Private Management Group Inc.'s portfolio, making the stock its 7th largest position. Private Management Group Inc. owned about 1.15% of Telephone and Data Systems worth $44,362,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Independence Bank of Kentucky acquired a new stake in shares of Telephone and Data Systems during the 4th quarter valued at $41,000. Quarry LP raised its holdings in shares of Telephone and Data Systems by 35.5% during the third quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider's stock worth $61,000 after acquiring an additional 692 shares in the last quarter. Versant Capital Management Inc boosted its position in Telephone and Data Systems by 14.5% during the fourth quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider's stock valued at $82,000 after purchasing an additional 303 shares during the last quarter. CWM LLC grew its stake in Telephone and Data Systems by 26.8% in the third quarter. CWM LLC now owns 4,995 shares of the Wireless communications provider's stock valued at $116,000 after purchasing an additional 1,056 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Telephone and Data Systems by 10.2% in the 3rd quarter. GAMMA Investing LLC now owns 5,302 shares of the Wireless communications provider's stock worth $123,000 after purchasing an additional 490 shares during the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

Telephone and Data Systems Stock Up 0.5 %

Telephone and Data Systems stock traded up $0.20 during mid-day trading on Friday, hitting $37.17. 688,763 shares of the company's stock were exchanged, compared to its average volume of 696,859. Telephone and Data Systems, Inc. has a 1-year low of $13.69 and a 1-year high of $37.46. The stock has a 50 day moving average of $34.68 and a two-hundred day moving average of $28.53. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The stock has a market cap of $4.20 billion, a P/E ratio of -6.88 and a beta of 0.80.

Telephone and Data Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, December 16th. Telephone and Data Systems's dividend payout ratio is -2.96%.

Wall Street Analyst Weigh In

TDS has been the subject of several research reports. JPMorgan Chase & Co. lifted 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. Raymond James raised shares of Telephone and Data Systems from a "market perform" rating to an "outperform" rating and set a $51.00 price objective on the stock in a research report on Thursday, November 7th.

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.