Raymond James Financial Inc. Makes New Investment in Telephone and Data Systems, Inc. (NYSE:TDS)

Raymond James Financial Inc. bought a new stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 164,722 shares of the Wireless communications provider's stock, valued at approximately $5,619,000. Raymond James Financial Inc. owned 0.15% of Telephone and Data Systems at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Silver Point Capital L.P. acquired a new stake in Telephone and Data Systems during the third quarter worth about $29,062,000. Loomis Sayles & Co. L P grew its position in Telephone and Data Systems by 35.3% during the third quarter. Loomis Sayles & Co. L P now owns 523,150 shares of the Wireless communications provider's stock valued at $12,163,000 after buying an additional 136,419 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Telephone and Data Systems by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,863 shares of the Wireless communications provider's stock valued at $34,035,000 after buying an additional 103,114 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Telephone and Data Systems by 26.9% in the third quarter. Point72 Asset Management L.P. now owns 470,018 shares of the Wireless communications provider's stock worth $10,928,000 after acquiring an additional 99,520 shares during the period. Finally, Mutual of America Capital Management LLC raised its position in shares of Telephone and Data Systems by 494.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 87,222 shares of the Wireless communications provider's stock worth $2,975,000 after acquiring an additional 72,554 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Telephone and Data Systems Trading Up 1.9 %

Shares of TDS traded up $0.71 during mid-day trading on Thursday, reaching $38.79. The stock had a trading volume of 750,581 shares, compared to its average volume of 1,022,711. 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's fifty day moving average is $36.44 and its 200 day moving average is $32.05. Telephone and Data Systems, Inc. has a 52-week low of $14.04 and a 52-week high of $41.21. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of -7.18 and a beta of 0.75.

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

Telephone and Data Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, March 17th. This represents a $0.16 annualized dividend and a dividend yield of 0.41%. Telephone and Data Systems's dividend payout ratio (DPR) is currently -18.60%.

Analysts Set New Price Targets

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

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.