Sumitomo Mitsui Trust Group Inc. Takes $239,000 Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,000 shares of the Wireless communications provider's stock, valued at approximately $239,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Independence Bank of Kentucky acquired a new stake in Telephone and Data Systems in the fourth quarter worth approximately $41,000. Quarry LP grew its stake in shares of Telephone and Data Systems by 35.5% in the 3rd quarter. Quarry LP now owns 2,643 shares of the Wireless communications provider's stock worth $61,000 after purchasing an additional 692 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Telephone and Data Systems by 14.5% in the 4th quarter. Versant Capital Management Inc now owns 2,395 shares of the Wireless communications provider's stock worth $82,000 after purchasing an additional 303 shares in the last quarter. CWM LLC lifted its stake in Telephone and Data Systems by 26.8% during 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 during the last quarter. Finally, KBC Group NV lifted its stake in Telephone and Data Systems by 70.6% during the fourth quarter. KBC Group NV now owns 4,853 shares of the Wireless communications provider's stock valued at $166,000 after purchasing an additional 2,008 shares during the last quarter. 80.00% of the stock is currently owned by institutional investors.

Telephone and Data Systems Trading Down 2.1 %

Shares of TDS stock traded down $0.83 during trading hours on Wednesday, reaching $39.48. 884,278 shares of the stock traded hands, compared to its average volume of 763,057. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $4.46 billion, a PE ratio of -7.31 and a beta of 0.80. Telephone and Data Systems, Inc. has a 1-year low of $13.69 and a 1-year high of $41.21. The business has a fifty day moving average price of $35.19 and a 200 day moving average price of $29.32.

Telephone and Data Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, December 16th. Telephone and Data Systems's dividend payout ratio (DPR) is currently -2.96%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. upped 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 Telephone and Data Systems from a "market perform" rating to an "outperform" rating and set a $51.00 target price on the stock in a research report on Thursday, November 7th.

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.