Prudential Financial Inc. Decreases Stake in Telephone and Data Systems, Inc. (NYSE:TDS)

Prudential Financial Inc. trimmed its holdings in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 8.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 445,122 shares of the Wireless communications provider's stock after selling 41,450 shares during the period. Prudential Financial Inc. owned approximately 0.39% of Telephone and Data Systems worth $15,183,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. State Street Corp grew its holdings in Telephone and Data Systems by 1.6% in the third quarter. State Street Corp now owns 4,039,070 shares of the Wireless communications provider's stock worth $93,908,000 after purchasing an additional 65,432 shares during the period. American Century Companies Inc. grew its stake in shares of Telephone and Data Systems by 6.7% in the 4th quarter. American Century Companies Inc. now owns 3,229,568 shares of the Wireless communications provider's stock valued at $110,161,000 after buying an additional 203,897 shares during the period. Geode Capital Management LLC increased its position in Telephone and Data Systems by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,291,071 shares of the Wireless communications provider's stock valued at $53,278,000 after buying an additional 43,470 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Telephone and Data Systems by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,863 shares of the Wireless communications provider's stock worth $34,035,000 after buying an additional 103,114 shares during the period. Finally, Silver Point Capital L.P. bought a new position in Telephone and Data Systems in the third quarter worth approximately $29,062,000. Institutional investors and hedge funds own 80.00% of the company's stock.

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Telephone and Data Systems Stock Up 1.1 %

Shares of NYSE TDS traded up $0.43 during mid-day trading on Tuesday, reaching $39.17. 87,828 shares of the company's stock traded hands, compared to its average volume of 1,067,998. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44. The business has a 50-day simple moving average of $36.54 and a 200 day simple moving average of $32.41. The stock has a market cap of $4.47 billion, a P/E ratio of -7.25 and a beta of 0.75. Telephone and Data Systems, Inc. has a 1-year low of $14.04 and a 1-year high of $41.21.

Telephone and Data Systems (NYSE:TDS - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.32) by $0.23. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. On average, analysts expect that Telephone and Data Systems, Inc. will post -0.31 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, March 17th. Telephone and Data Systems's payout ratio is currently -18.60%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price objective on Telephone and Data Systems from $53.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, February 24th.

Telephone and Data Systems Company 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.