Renaissance Technologies LLC Sells 81,680 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Renaissance Technologies LLC trimmed its stake in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) by 22.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 286,347 shares of the Wireless communications provider's stock after selling 81,680 shares during the quarter. Renaissance Technologies LLC owned approximately 0.25% of Telephone and Data Systems worth $9,767,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Independence Bank of Kentucky bought a new position in shares of Telephone and Data Systems in the fourth quarter worth $41,000. Federated Hermes Inc. purchased a new stake in shares of Telephone and Data Systems in the 4th quarter valued at approximately $56,000. SBI Securities Co. Ltd. acquired a new stake in shares of Telephone and Data Systems in the fourth quarter worth $74,000. Versant Capital Management Inc boosted its position in Telephone and Data Systems by 14.5% during the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider's stock worth $82,000 after acquiring an additional 303 shares during the period. Finally, Farther Finance Advisors LLC grew 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 valued at $92,000 after purchasing an additional 1,156 shares in the last quarter. Institutional investors and hedge funds own 80.00% of the company's stock.

Telephone and Data Systems Stock Down 0.3 %

Shares of TDS traded down $0.09 during trading hours on Tuesday, hitting $34.89. 796,008 shares of the company were exchanged, compared to its average volume of 1,087,061. The firm's 50 day moving average is $36.50 and its 200-day moving average is $33.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.59. Telephone and Data Systems, Inc. has a 52 week low of $14.04 and a 52 week high of $41.21. The company has a market cap of $3.98 billion, a PE ratio of -6.46 and a beta of 0.62.

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

Telephone and Data Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.04 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.16 annualized dividend and a yield of 0.46%. Telephone and Data Systems's dividend payout ratio (DPR) is presently -18.60%.

Wall Street Analyst Weigh In

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