Summit Global Investments Takes Position in Telephone and Data Systems, Inc. (NYSE:TDS)

Summit Global Investments purchased a new position in Telephone and Data Systems, Inc. (NYSE:TDS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,579 shares of the Wireless communications provider's stock, valued at approximately $463,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TDS. Independence Bank of Kentucky bought a new stake in Telephone and Data Systems in the fourth quarter worth $41,000. Quarry LP raised its position 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. SBI Securities Co. Ltd. bought a new position in Telephone and Data Systems in the 4th quarter worth about $74,000. Versant Capital Management Inc grew 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 valued at $82,000 after purchasing an additional 303 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Telephone and Data Systems by 74.5% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 80.00% of the company's stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their target price 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.

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Telephone and Data Systems Stock Up 1.9 %

TDS traded up $0.71 during trading on Thursday, hitting $38.79. 750,581 shares of the company's stock traded hands, compared to its average volume of 1,022,712. Telephone and Data Systems, Inc. has a 12-month low of $14.04 and a 12-month high of $41.21. The company's 50 day simple moving average is $36.44 and its two-hundred day simple moving average is $32.05. The company has a current ratio of 1.59, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The stock has a market capitalization 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 released its quarterly earnings data 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 analysts' expectations of $1.23 billion. Analysts predict that Telephone and Data Systems, Inc. will post -0.31 earnings per share for the current fiscal year.

Telephone and Data Systems Dividend Announcement

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

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.