164,722 Shares in Telephone and Data Systems, Inc. (NYSE:TDS) Purchased by Raymond James Financial Inc.

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

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TDS. Independence Bank of Kentucky acquired a new stake in shares of Telephone and Data Systems in the fourth quarter valued at about $41,000. Federated Hermes Inc. acquired a new stake in shares of Telephone and Data Systems in the 4th quarter valued at approximately $56,000. SBI Securities Co. Ltd. bought a new position in shares of Telephone and Data Systems in the fourth quarter valued at $74,000. Versant Capital Management Inc increased its holdings 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 worth $82,000 after buying an additional 303 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Telephone and Data Systems by 74.5% during the fourth quarter. Farther Finance Advisors LLC now owns 2,707 shares of the Wireless communications provider's stock worth $92,000 after acquiring an additional 1,156 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Telephone and Data Systems Stock Performance

Telephone and Data Systems stock traded up $0.12 during mid-day trading on Friday, hitting $36.62. 873,733 shares of the company's stock traded hands, compared to its average volume of 1,091,856. 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 firm has a 50 day simple moving average of $36.28 and a two-hundred day simple moving average of $34.17. Telephone and Data Systems, Inc. has a fifty-two week low of $14.04 and a fifty-two week high of $41.21. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of -6.78 and a beta of 0.62.

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 for the quarter, topping the consensus estimate of ($0.32) by $0.23. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations 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, research 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, March 17th. Telephone and Data Systems's dividend payout ratio is currently -18.60%.

About Telephone and Data Systems

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.